Cramer Quick Take: Buy Gap Here
NEW YORK (TheStreet) -- Retail sales may not yet be out of the woods, but Jim Cramer told Debra Borchardt at TheStreet.com Thursday that he'd be a buyer of Gap Stores (GPS) after the company both reported earnings and announced the acquisition of Intermix, a high-end retailer.
Cramer said Gap remains a well-run company and investors shouldn't be concerned the stock didn't immediately pop on the news. He said unlike a lot of retailers, there aren't a lot of investors shorting Gap, which makes for a more stable stock price.Cramer said he likes that Gap will now have multiple brands under one roof, as Urban Outfitters (URBN) does, and would use any weakness in the stock to start a position.
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-- Written by Scott Rutt in Washington.
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