After years of cutting back and pinching pennies, the consumer seems to be on the rebound. Sure, the employment situation is still tough, but the economy and market are getting better overall.
How do we know? Well, one sign came over the Thanksgiving holiday. According to The New York Times,212 million shoppers hit the stores that weekend, spending $365 each. That’s a jump of 6 percent over the previous year.
As far as Cramer’s concerned, that strength, that bullishness in the retail sector means that the earnings estimates for this group are “way, way too low,” he said during a recent “Mad Money.” And low estimates often lead to earnings beats, which in turn lead to higher share prices.
Given this possibility, and the fact that we’re in the middle of a typically feverish spending season, Cramer thought it was a perfect time to lay out his top retail picks. Whether department stores, specialty names or apparel makers, he thinks the following 11 names are the best.
Posted 9 Dec 2010