TheStreet.com RealMoney

The Press Got It Wrong on Retail

By Jim Cramer

 About this article:
 Here's what I want to see tomorrow in the newspapers: "Dear readers, we apologize for writing that there will be no back-to-school season this year. After reviewing the numbers from Kohl's , Abercrombie , Target , Gap , Macy's and JC Penney , we have to admit we were wrong. Back-to-school is looking very big, and given the low inventories, the cash flow could be tremendous here." Think back to last week, when the press was declaring back-to-school moribund. Forget the fact that kids had just gotten off from school, so the gun-jumping was palpably stupid, it was also totally and prematurely wrong and based on nothing. Consider Urban Outfitters , long one of my favorites, and not just because I have one down the block from me. Urban said things are going to be tough, Urban said things will be down, but they were only...

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