It appears that reports of the U.S. consumer’s demise have been greatly exaggerated, Cramer said Wednesday.
Just look at Macy’s blow-out quarter, the "Mad Money" host said. The stock skyrocketed after the company reported Wednesday morning it earned 30 cents a share, an 11 cent beat, on stronger-than-expected revenues that rose 5.7 percent year-over-year. Same-store sales were up 5.4 percent for the quarter, and the company raised guidance for the full-year. But the good news didn’t stop there, Cramer noted. Macy’s nearly doubled its quarterly dividend, which will now yield 1.5 percent.
“When a company gives you that kind of dividend boost,” Cramer explained, “They’re signaling that business is getting much better and there’s more than enough cash to go around.”
And then there is what Cramer calls the "congratulations quotient." When the analysts are really impressed with a company’s results, they’ll congratulate management on the conference call. Macy’s got five congratulations, which Cramer called huge.
To learn more about the quarter and what’s ahead, Cramer spoke with Macy’s Chairman and CEO Terry Lundgren. To see the full interview, watch the video.
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