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Cramer's Retail Plays
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From Mad Money 3-20-07:On Jim's back to school special, he welcomed any questions from the students. One student tried to convince Jim to buy Wal-Mart Stores Inc (WMT). Jim has always been upfront about his general dislike of WMT. He belives the stock will not turn around until CEO Lee Scott leaves the company.
While Cramer admits the stock is cheap and seems undervalued, the fact remains that 16 out of 28 analysts like it very much, which is too many for Cramer's taste. He also noted that it will take the company years to remodel all of its stores.
Cramer said he's moving it from a "triple-sell" up to a "don't buy." But he suggested that if anyone is looking to play retail, the best bets are in the following names: J.C. Penney (JCP), Kohl's (KSS) and Sears (SHLD), which he owns for his charitable trust.
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