CNBC's Jim Cramer on Wednesday said more consumers are on the hunt for bargains, picking out several high-performing retail stocks to support his thesis.
"Let's suspend the notion that the consumer's totally strapped for cash, that's wrong," he said."The bottom line is the consumer's finally pushing back and demanding better prices — we're no longer willing to be cowed into paying more than what something seems to be worth, which bodes very poorly for those stores that have yet to roll back their prices.
Some on Wall Street say consumers are"overstretched, strapped, sapped," according to Cramer, but he suggested they could instead be"just fed up with paying higher prices for so many things for so long," and have become more frugal., and he pointed out that the latter's low-cost signature brands are especially appealing. He suggested that people view those companies' offerings as better deals than dollar stores, adding that.
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