Jim Cramer says soft Target quarter makes Walmart earnings look even better
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Target : Shares were dropping 7% after the retailer on Wednesday reported a soft quarter and missed on earnings for the first time since November 2022. Target said consumers bought fewer groceries and home goods. “It just wasn’t as strong as the other guys,” Jim Cramer said Wednesday. ” Walmart is now apples to oranges” to Target. “Walmart has so much going on.” Target does not, he added. Lululemon : The apparel company is implementing a new design structure, according to The Wall Street Journal. Chief Product Officer Sun Choe is leaving as part of a restructuring. The stock hit a 52-week low Wednesday. “Down 41% [year to date], but we still don’t know why everyone is leaving. It’s an atypical situation,” Cramer said. Toll Brothers : The homebuilder beat on quarterly earnings and raised its delivery guidance for the year. The stock, which was higher earlier, turned lower and was losing 8% in late-morning trading. Urban Outfitters : Shares were down more than 4% despite reporting a better-than-expected quarter, driven by Anthropologie. “Anthro was terrific. What is confusing is here, the reason why I think the stock is going down, the actual parent, Urban Outfitters, is doing really poorly,” Cramer said. Williams-Sonoma : The company behind Williams Sonoma, Pottery Barn, and West Elm delivered a huge quarter earnings beat on inline revenue. The stock was pretty flat. “The stock had been up more. Now we’re seeing some weakness from Toll emanating through the whole market, particularly anything that’s housing-related. Williams-Sonoma is that. Williams-Sonoma is doing incredibly well. It’s really a terrific situation,” Cramer said.
