Jim Cramer’s Game Plan: 13 Stocks in Focus

8. Macy’s, Inc. (NYSE:M)

Number of Hedge Fund Holders: 38

Cramer highlighted that Macy’s, Inc. (NYSE:M) stands to make a lot of money over the holiday season and commended the company’s CEO.

“Now we’ve seen a bunch of retailers’ reports not sweating numbers yet in many cases, their stocks still roared. Meanwhile, others like Target get clubbed like baby seals. It’s treacherous to start buying these now because many of these stocks have run mightily in the last few days… Next up, Tony Spring, the CEO of Macy’s knows that his chain makes an incredible amount of money in the next 30 days. This quarter is simply a prelude to Macy’s season. If he can tell a good story about the Bloomingdale’s-ization of the chain… then his stock will build on today’s lead. I mentioned that because Tony is from Bloomingdale’s and he did such a great job there and I’m pulling for this guy.”

Macy’s (NYSE:M) is an omnichannel retailer offering a variety of products, including apparel, accessories, cosmetics, home furnishings, and more, through its Macy’s, Bloomingdale’s, and bluemercury brands. In February, it appointed Tony Spring as Chairman and CEO, a leadership change aimed at navigating the company through challenging times. The company has been grappling with declining sales and market share loss.

In response to these challenges, Spring introduced “A Bold New Chapter,” a strategy designed to modernize the company and secure a more sustainable future. Under it, the company is rethinking its physical store strategy. It is in the process of closing underperforming locations in low-traffic areas while simultaneously opening new, smaller “go-forward” stores. These new stores are part of a test group known as the “First 50,” which aims to create a better shopping experience.

The company’s vision for the future includes a more appealing merchandise assortment, improved store layouts with less clutter, and a better flow of products. Additionally, Macy’s (NYSE:M) plans to increase staffing in these locations to improve customer service and experience. Additionally, in a recent interview with Yahoo Finance, Spring emphasized that the company’s three-year plan focuses on achieving sustainable, profitable growth.