“It looks like that the big guys won.” Large U.S. retailers benefited from coronavirus restrictions, while “so many other companies, little companies, medium, small, just couldn’t compete,” MadMoneyOnCNBC's JimCramer says.
, notching a 7.1% increase in revenue although profit fell, weighed down by coronavirus-related expenses. Its stock was down nearly 2% on Tuesday.
"I mean, Home Depot literally had to keep traffic back. Costco is doing the same thing. They had to hold back traffic because they were trying to do it safely," said Cramer, who complimented Walmart's preparedness and response to the pandemic. He specifically praised Walmart CEO"These are great American companies that are on fire," Cramer added.
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