TheStreet’s Jim Cramer explains why he likes everything he’s hearing from Target CEO Brian Cornell. To start with, Cramer says he likes the $2 billion share buyback that is coming over the next year. He also says the company has a really good dividend and a decent balance sheet and it’s working to get past the terrible breaches that it had. Cramer adds that Cornell is reinventing the company with restructuring measures and by implementing cost cutting initiatives that were announced on Tuesday which include cutting thousands of jobs at its headquarters. Cramer believes Cornell will streamline and go all in with natural and organic, he’s going to reinvent cosmetics and he’s going to grow the baby items section. Cramer says he’s got plenty of ideas if Cornell wants to check in with him. Cramer owns Target in his Action Alerts PLUS charitable trust portfolio.
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