CNBC’s Jim Cramer was not a fan of Walmart’s latest earnings report, and he wasn’t shy about it in his “Voice of Cramerica” strategy session.
“I’ve got to tell you, I’ve spent a lot of time going over that Walmart quarter and I didn’t like it. I didn’t like the dramatic decline in e-commerce at all,” the “Mad Money” host told a caller.
Walmart’s fourth-quarter results, released Feb. 20, missed Wall Street’s expectations as sales on Walmart.com waned.
The weakness in e-commerce overshadowed some of the retailer’s more favorable results and put its ongoing battle with Amazon under a spotlight.
“I don’t want you to bottom-fish yet in Walmart. I don’t like the way it’s going,” Cramer said.
Walmart’s stock closed Friday down 0.3 percent, at $88.77 a share.
But investors shouldn’t sell high-quality stocks out of worry about the market’s recent swings, the “Mad Money” host told a caller inquiring about selling her position in McDonald’s.
McDonald’s shares rounded out the day on Friday at $148.27 a share, down 4.77 percent.
“No, no, no. [CEO] Steve Easterbrook is doing a great job,” Cramer said. “This is a tailspin that is inspired by fear. We don’t trade on fear; we trade on numbers. Buy some now, buy some after it goes above 3 percent, if that does happen.”
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