Jim Cramer Says Target Is Leaving Bed Bath Beyond Saving
Real Money Stock of the Day Bed, Bath & Beyond reported earnings after the bell on July 10.
Bed, Bath & Beyond reported adjusted earnings of 12 cents per share on revenue of $2.6 billion.
Meanwhile, same-store sales tumbled 6.6%.
In his daily column on Real Money, Jim Cramer noted that the clock is ticking for the struggling retailer, despite notable effort from interim CEO Mary Winston.
Bed Bath's biggest threat going forward?
Surprise, this time around it isn't Amazon .
Cramer said Target has been eating into Bed Bath's sales with a better selection, cheaper products and most importantly, more resources.
Jim Cramer breaks down what has Bed, Bath & Beyond hurting: "Bed Bath does not have that kind of pricing power.
Bed Bath does not have a CEO.
They have an interim CEO, not unlike Wells Fargo.
They don't have what I regard as being attractive stores that are worth going into.
They don't have the right pricing," he explained.
Jim Cramer: Bed Bath Is Almost Beyond a Fix