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Kors Is in a Downward Spiral, Pressure Is on Whole Foods: Cramer

July 9, 2023
in Trade Tube
Reading Time: 1 min read
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Jim Cramer answers viewers’ Twitter (TWTR) questions from the floor of the New York Stock Exchange. He weighs in on the airlines, specifically JetBlue (JBLU), which he says is doing much better than a lot of the other carriers. But, he warns that a downgrade of American Airlines (AAL) from Bank of America’s (BAC) Merrill Lynch is going to keep the group down. On the retail front, Cramer zeroes in on Michael Kors (KORS), which he stresses investors have to stay away from. He explains that when a company like Kors gets into a downward spiral in terms of comparable store sales, it’s almost impossible for it to get out of it. When one viewer asks if Whole Foods (WFM) is still kicking or if it’s falling behind the wellness stores surge, Cramer acknowledges that Target (TGT) chief executive Brian Cornell is putting a big focus on wellness and Costco (COST) is seeing huge sales in organic and natural foods. This puts pressure on Whole Foods, according to Cramer, which must come out with something special and new — and he says it can’t happen soon enough. If you have a stock question, make sure to tweet it @jimcramer using #CramerQ.

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