Cramer Quick Take: Tiffany, Ascena Need to Shape Up
NEW YORK (TheStreet) -- When it comes to the tough game of retail, you can only blame the environment for so long, Jim Cramer told Lindsey Bell at TheStreet.com Thursday.Cramer said that in the case of Tiffany (TIF) , clearly the upscale retailer is getting it wrong.
Cramer said other retailers have missed their earnings but then have made changes to their management or strategy and have turned things around. Not so with Tiffany, which continues to disappoint quarter after quarter. Cramer said maybe the company is losing its edge or maybe its no longer appealing to younger consumers. In either case, something needs to change.
As for Ascena Group (ASNA) , which runs Justice, Lane Bryant, Maurices and other discount chains, Cramer said he's scratching his head. The company's CEO told him things were going well late last year, but in reality things went horribly wrong.
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-- Written by Scott Rutt in Washington.
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