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Cramer welcomes Kohl's 'renaissance'

Kohl's said Wednesday it will hire more than 67,000 seasonal workers to support the busy holiday shopping season, and CNBC's Jim Cramer takes that as a sign that the retailer is turning things around.

Read MoreKohl's, FedEx boost hiring plans for holidays

A Kohl’s department store in Jersey City, New Jersey.
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A Kohl’s department store in Jersey City, New Jersey.

"Kohl's is having a renaissance. It's a resurgence," Cramer said on "Squawk on the Street." "I cannot believe how aggressive they've become. They were this mid-tier player. I think they gained from Target's ennui."

Target's same-store sales have either declined or failed to show growth in the past six quarters, Reuters reports. Last month, the U.S.'s third-largest retailer cut its full-year earnings forecast. It seems Target is still reeling after hackers stole at least 40 million payment card numbers and 70 million other pieces of customer data last Christmas season.

Read MoreTarget announces massive data breach

Kohl's, on the other hand, has been able to refocus on merchandising and pricing, Cramer said.

"If you go to Kohl's, you'll find some great private label bargains," he said. "I find that Kohl's is back. It was a great American growth company. They are putting up some good numbers. It's a buy, even up here."

—By CNBC's Drew Sandholm.

DISCLOSURE: When this story was published, Cramer's charitable trust did not own Kohl's or Target.