It’s Not Easy Trying To Re-invent, Says Jim Cramer About Macy’s, Inc. (M)

We recently published 15 Stocks Jim Cramer Discussed As He Said CEOs Were Afraid Of Hiring. Macy’s, Inc. (NYSE:M) is one of the stocks Jim Cramer recently discussed.

Macy’s, Inc. (NYSE:M)’s shares were the standout in the retail sector last week after they gained 21% after the firm’s latest earnings report. Investors were particularly impressed by the fact that Macy’s, Inc. (NYSE:M) grew its same-store sales for the first time in three years. Courtesy of the gains, the shares are up by 3.2% year-to-date. Cramer discussed Macy’s, Inc. (NYSE:M)  after the earnings and remarked that balance sheet improvement was an important aspect behind the firm’s performance. He also boasted about feeling good about the turnaround before the earnings report. This time, he cited Macy’s, Inc. (NYSE:M) as an example of reinventing the business in times of turmoil:

“Well look, let’s hand it to Macy’s. Macy’s actually was a non discounter that did well”

“Look I’ve got to tell you, I’m someone, I feel for Macy’s, what Tony Spring’s, it’s not easy, trying to reinvent. But you have to make it more exciting, you have to make it interesting. It has to be dazzling, you have to have points. When I look at Lulu, I just say, wow, I gotta avoid that corner. That’s an expensive corner. Be careful of that corner.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.