Investors are writing off Lowe's new CEO Marvin Ellison, 'but he's been there for five minutes,' says CNBC's Jim Cramer.
Ellison said, in the company's earnings news release, "We are still in the early stages of our transformation, and with the changes we are putting in place. We expect to deliver improved gross margin performance over the balance of the year." He also said, "The unanticipated impact of the convergence of cost pressure, significant transition in our merchandising organization, and ineffective legacy pricing tools" as being behind the company's missed earnings.
Most of these mistakes were brought over from past executives, Cramer said. "Marvin's doing everything he has to do," he added. "I think the hand he got wasn't so great.", which fell short of estimates, and prompted the home improvement retailer to cut its forecast for the year.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Cramer Remix: Investors should take cannabis hype with a grain of saltJim Cramer explains that, while he's a believer in the cannabis business, conviction should be tempered with discipline.
और पढो »
Seven comeback stocks that investors could pounce on: CramerJim Cramer identifies seven stocks that have lagged the broader market and are starting to catch steam.
और पढो »
Oregon school coach, former football star Keanon Lowe tackles armed student, witnesses sayA high school coach and former college football star is being hailed for helping to avert a potential tragedy by tackling a student wielding a shotgun at a high school in Portland, Oregon.
और पढो »
Ex-Oregon football star Keanon Lowe credited with stopping gunman at Portland schoolKeanon Lowe, a former wide receiver for the University of Oregon, was credited Friday with tackling an armed man at Portland's Parkrose High School.
और पढो »
'Hero' coach who disarmed alleged gunman at school says he's 'blessed to be alive'The 'hero' football coach who disarmed an alleged gunman at an Oregon high school says he's 'blessed to be alive.'
और पढो »
Cramer: US companies are getting hurt by tariffs because 'they didn't think Trump had the resolve'Some American companies 'let themselves get hurt' by tariffs because they assumed Trump wouldn't follow through on his China trade threats, CNBC's Jim Cramer says.
और पढो »
Jim Cramer reveals his top social media stocksJim Cramer ranks the stocks of Twitter, Snap, Pinterest and Facebook.
और पढो »
Cramer: 'I don't trust this market at all' because it's so dependent on Trump tweets'I don't trust this market at all' because it's so dependent on Trump tweets, MadMoneyOnCNBC's Jim Cramer said earlier this week.
और पढो »
Cramer: Wednesday's 'crazy session' is a perfect example of the market's new normal'Turns out we can get good news, too, and some days like today the stock market actually makes sense,' Jim Cramer says.
और पढो »
Cramer Remix: The go-to names in an economic slowdownJim Cramer reveals the cloud kings are a great secular trend to invest in during times of economic uncertainty.
और पढो »
Cramer Remix: Be very careful with Luckin Coffee's IPOJim Cramer examines Luckin Coffee, the latest Chinese company to hit the tape.
और पढो »