Jim Cramer Says "When the Rest of Retail's in Trouble, TJX Makes Out Like a Bandit"

The TJX Companies, Inc. (NYSE:TJX) is one of the stocks Jim Cramer recently offered insights on. Cramer noted that his team raised the price target on the stock for the Charitable Trust, as he said:

“Finally, we got this really strong quarter from TJX… It’s another name we own for the Charitable Trust. This one’s very different from the other retailers that reported this week because TJX is the leading off-price chain. They’re playing a different game than regular retailers…

This company thrives when the rest of retail’s in trouble, one reason why TJX is up more than 20% for the year, while these other three companies are all in the red. Sure enough, this time, TJX reported a clean top and bottom line beat, 5% same-store sales growth when the analysts were looking for 3.7%. That’s a nice beat, 3.7 goes to 5. While TJX issued slightly weaker-than-expected guidance for earnings and same-store sales in the current quarter, that’s par for the course, people…

Again, when the rest of retail’s in trouble, TJX makes out like a bandit. The one thing about TJX is that its stock tends to either sell off or do nothing after the company reports, even when the numbers are good. We actually raised our price target on this one for the Charitable Trust yesterday. Even if the stock finished the day up less than 0.2%, it rallied another 1.6% today despite the terrible tape. I still think it’s a steal.”

The TJX Companies, Inc. (NYSE:TJX) is an off-price retailer that provides clothing, shoes, accessories, and a variety of home goods at discounted prices.

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Disclosure: None. This article is originally published at Insider Monkey