The economic number ain’t looking so good for retail sales. Wal-Mart and Target were down. Cramer tries to explain that things aren’t so bad. I’m not sure that he is correct on this one.
Some of the nation’s largest retailers reported weak same-store sales in April, adding fuel to concerns that retail spending could face a longer-term slowdown if economic woes continue to weigh on consumers.
The weakness cut across a wide swath of retailers, with everyone from discounters like Target and Wal-Mart to department stores such as Macy’s and Kohl’s reporting disappointing results for the four-week period ended May 5. (more…)