Jim Cramer looks at Target earnings, says consumers are loyal to value and not brands [CNBC]
Texas Roadhouse, Inc. (TXRH)
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Source: CNBC
“Prices have gotten so high over the past few years that we're losing our loyalty to brands,” he said. “These days, this whole country is about one thing: The Benjamins.” Cramer looked at recent quarterly results from Target, which reported its largest revenue miss in two years. CNBC's Jim Cramer on Wednesday said consumers right now aren't focused on brand names, but on companies that can provide the most value. “Prices have gotten so high over the past few years that we're losing our loyalty to brands,” he said. “These days, this whole country is about one thing: The Benjamins.” Cramer used this dynamic to explain recent quarterly results from Target , which reported its largest revenue miss in two years, sending shares down more than 21% to hit a new 52-week low. The big box retailer cut its full-year guidance, and management said it saw weakness in discretionary products despite price cuts. Target's poor quarter comes just one day after peer retailer Walmart topped estima
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