Cramer Cautions Home Depot, TJX Don't Deserve To Be Down With The Rest Of Retail

The retail sector is floundering, but Jim Cramer sees an opportunity to buy TJX Companies Inc TJX and Home Depot Inc HD on a dip. These two stocks could rebound once the market stops considering them guilty by their association with retail.

The slip in retail began earlier this month after disappointing earnings from department stores like Macy’s, Inc. M, but some see vast differences between department stores and shopping malls versus off-price stores like those operated by TJX Companies, who don’t face the same structural challenges.

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It may be unfair to lump Home Depot and Lowe’s Companies, Inc. LOW in with clothing, footwear and accessory retailers. Home improvement is beginning to see tailwinds, with aging housing inventory motivating consumers to visit their local hardware store.

“In this market, stocks get seesawed back and forth often with nothing happening at the company,” Cramer opined. He advised his viewers that “next time the seesaw falls,” he suggests hopping onboard TJX Companies and Home Depot, rather than retreating.