We're buying more shares of a retailer that's been punished enough for a rare misstep
Shares have been in the dumps since earnings in August.
TL;DR
- Jim Cramer's Charitable Trust is buying 75 shares of TJX Companies at approximately $125 each.
- This purchase increases the trust's holding in TJX to 1,125 shares, representing 3.6% of the portfolio.
- TJX stock has fallen roughly 20% since early August due to a rare Marmaxx same-store sales miss and rising oil prices.
- CEO Ernie Herrman's comments suggest that August sales were better than Q2, indicating the Marmaxx issues might be temporary.
- Stronger-than-expected August retail sales suggest consumers can withstand high gas costs.
- TJX is expected to benefit as consumers prioritize deals and potentially shift spending from traditional department stores.