Jim Cramer names retail stocks to buy as the market pulls back
CNBC's Jim Cramer on Thursday highlighted two stocks in the retail space that he thinks investors have an opportunity to buy on the dip — Gap and Ralph Lauren — even as Wall Street worries broadly about the strength of the consumer. "As long as you don't think the entire economy's about to fall off a cliff, and there's still some of us who feel that way, then some of these high-quality retailers are looking darned cheap at these levels," he said.
Gap Stock Soars as Retailer's Turnaround Plan Bears Fruit
Close Key Takeaways Gap's profit and sales exceeded forecasts in the key holiday shopping season as the clothing retailer's turnaround efforts continued to boost results.Comparable store sales rose 3% year-over-year, also more than forecasts.CEO Richard Dickson said the Gap's "brands are resonating" with consumers. Gap Inc. (GAP) shares jumped nearly 15% Friday, a day after the clothing retailer posted better-than-expected profit and sales in the key holiday period as its turnaround plan continued to produce positive results. The company behind the Gap, Old Navy, Banana Republic, and Athleta brands reported fourth-quarter earnings per share (EPS) of $0.54, while Visible Alpha consensus called for $0.36. Revenue fell 3.5% year-over-year to $4.15 billion, but that also exceeded forecasts. Comparable store sales increased 3%, well above the Visible Alpha expectation of 0.68%. CEO Richard Dickson noted that Gap had positive comparable sales in all four quarters of 2024, and "achieved one of the highest gross margins in the last 20 years." Dickson said in an interview with Yahoo! Finance that the results showed "that our brands are resonating" with consumers. He explained that he's not overly concerned about new Trump administration tariffs, saying that "regardless of inputs and tariffs and everything else, there's always winners and losers. Our market share performance is showing us that we are doing what's right." Gap anticipates full-year sales growth of 1% to 2% from 2024's $15.09 billion. Shares of Gap entered Friday's session essentially flat over the past 12 months before soaring 14% in recent trading. TradingView Do you have a news tip for Investopedia reporters? Please email us at [email protected]
GAP CEO Richard Dickson sits down with Jim Cramer
GAP President and CEO Richard Dickson joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, gaining market share and more.
GAP CEO Dickson: This is the fourth consecutive quarter of positive comps
GAP President and CEO Richard Dickson joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, gaining market share and more.
3 Turnaround Stocks in the Early Innings With More Upside to Come
“Turnaround” is a magic word for investors looking to get into a stock at cheap valuations. It's a key justification for entering stocks that have been left for dead.
Best Growth Stocks to Buy for January 10th
ITRI, GAP, and NCNO it to the Zacks Rank #1 (Strong Buy) growth stocks list on January 10, 2024.
Best Growth Stocks to Buy for January 8th
STRL, GAP, and NCNO it to the Zacks Rank #1 (Strong Buy) growth stocks list on January 8, 2024.
New Strong Buy Stocks for November 27th
GAP, POWL, XPER, ZBRA and GSBC have been added to the Zacks Rank #1 (Strong Buy) List on November 27, 2024.
Best Income Stocks to Buy for November 27th
GAP, JXN and MNR made it to the Zacks Rank #1 (Strong Buy) income stocks list on November 27, 2024.
Best Value Stocks to Buy for November 27th
POWL, MNR and GAP made it to the Zacks Rank #1 (Strong Buy) value stocks list on November 27, 2024.
The retail earnings picture is a mixed bag; here are the winners and losers
CNBC's Courtney Reagan joins 'Money Movers' to discuss Gap's stock surge.
Markets Close in the Green, Recovered from Election "Hangover"
Investors aren't exactly donning the lampshade again quite yet, but they're feeling pretty refreshed.
