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Ahead of earnings, Cramer says many retailers have raised prices too high [CNBC]
Last starbucks corporation earnings: 4/28 04:05 pm
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season, saying that companies in the sector need to offer bargains to consumers who feel the weight of inflation. “I think retail's still the ugly duckling versus travel and leisure,” he said. “People don't want to spend money on physical items unless they have to, but even then, they're going to be more frugal, even if means getting a lower-quality hamburger or latte.” To Cramer, McDonald's earnings' disappointed last week because its products have become too expensive. He said consumers no longer consider the burger chain to have bargain prices, something the the company could be reluctant to admit. Cramer also said Starbucks ' coffee may be too expensive, adding he's disappointed management doesn't seem to be talking about rolling back prices. Cramer wondered how the market will react to stocks like Target Macy's or Nordstrom . He said Target has brands that usually offer great value, suggested that the stock may be viewed as enough of a bargain to interest investors. Crame
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