Jim Cramer Says “Target Wasn’t So Good” as He Breaks Down Retail Sales and Holiday Spending Trends

Target Corporation (NYSE:TGT) is one of the stocks Jim Cramer talked about recently. Cramer highlighted the stock while discussing retail sales. The Mad Money host said:

“Let’s talk about retail sales. So important. We got October retail sales at the same time as the jobs report, and they were slightly weaker than expected. October retail sales were unchanged month over month, and September retail sales growth was also revised downward by 10 basis points. However, some of the alternative readings for retail sales were a bit better. October retail sales excluding autos grew 0.4% month over month, better than the expected 0.25%. Excluding both autos and gas, October retail sales were up 0.5%, also better than expected. That’s nice. But frankly, who cares about October retail sales mid-December, right? We gotta worry about the holiday. As I’ve mentioned before, the retailers generally had more positive things to say about the state of their businesses when they reported in November. Aside from a few one-off cases, like Target wasn’t so good, Burlington Stores, and then, one that the trust owns, Home Depot. Rates are too high for them. Plus, the post-Thanksgiving holiday shopping season got off to a strong start. In the end, I still believe that the consumer’s not feeling great but still spending at a decent clip, at least for the holidays.”

A stock market chart. Photo by Arturo A on Pexels

Target Corporation (NYSE:TGT) is a retailer that sells clothing, beauty items, groceries, electronics, home goods, and everyday essentials.

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