The retailer operator J C Penney Company Inc (NYSE:JCP) reports its second-quarter performance numbers after the bell tomorrow. The stock was in focus on CNBC with Jim Cramer and “Squawk on the Street” team. They also talked about other consumer retail stocks, including Macy’s, Inc. (NYSE:M) and Amazon.com, Inc. (NASDAQ:AMZN). It is worth noting that JCP is down more than 27% over the past one year and has managed to gain more than 1% so far this year.
Cramer and his team are optimistic that J C Penney Company Inc (NYSE:JCP) will disclose better results in the upcoming report as it tries a turnaround under CEO Mike Ullman, who replaced Ron Johnson after the latter failed to deliver good results.
In the last reporting, J C Penney Company Inc (NYSE:JCP) showed improvement in sales and even the bottom line strengthened compared with the same quarter a year earlier. The upcoming report will determine which way the stock of JCP will trade as investors are patiently waiting for any sign to make a move.
Cramer talked about $5.5 billion being up for grabs for J C Penney Company Inc (NYSE:JCP). He also talked about store traffic improvement in the retailer’s stores, a sign that things could be getting better.
“[…] When I get to my J C Penney I am seeing the store being filled again. Some of that comes from Macy’s heart, because you remember the comp sales dropped […],” said Cramer.
Macy’s, Inc. (NYSE:M) reported its second-quarter results that lacked strength and it missed on both earnings and revenue fronts. However, Macy’s performance showed improvement from the prior year. Coming onto the e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN), Cramer said things are looking up for the company despite the issues that it is having with publisher Hachette and some authors. He noted that people still shop at Amazon and numbers have even reached record levels.
“People are still shopping. They shopped at Amazon in record numbers […],” he said.
Cramer and his team on “Squawk on the Street” think, Macy’s, Inc. (NYSE:M), J C Penney Company Inc (NYSE:JCP) and Amazon.com, Inc. (NASDAQ:AMZN) are interesting retail stocks.