CNBC’s Jim Cramer said Tuesday that large retailers in the U.S. such as Walmart benefited from the coronavirus-related restrictions on businesses, contending this week’s earnings reports will reflect the top-heavy nature of the economy.
“It looks like the big guys won. You have them basically cordoned off as essential services. So many other companies, little companies, medium, small, just couldn’t compete,” Cramer said on “Squawk on the Street.” “This is what happens when you have a survival of the fittest economy.”
Cramer’s comments came shortly after Walmart reported first-quarter earnings, which showed U.S. e-commerce sales spiked by 74% and same-store sales rose 10% as the…