Ross Stores is on a roll, making new highs for over a week. And those highs are well-deserved, Cramer said Friday.
The off-price retail company “has become emblematic of the squeezed nature of the consumer in this country,” he said.
Ross is also executing brilliantly. Same-store sales were up 5 percent in September and inventory per store was down 7 percent. It also raised its third quarter guidance from the $1 to $1.04 range to the $1.16 to $1.18 range.
What’s more, Cramer said, the company has plenty of room to expand in the U.S.
But he wouldn’t buy it just yet since the stock has had a huge run up.
“Put Ross Stores on your shopping list,” Cramer said, “and wait for it to pull back from its 52-week high.”
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