Jim Cramer likes these 7 consumer discretionary stocks for 2023 – CNBC

CNBC’s Jim Cramer on Friday offered investors a list of seven stocks he believes could be great additions to investors’ portfolios.The consumer discretionary sector is down about 37% for the year. Companies in this sector tend to suffer during times of economic downturn, since consumers prioritize paying for necessities such as rent or food over discretionary purchases when their budgets are tight.related investing newsBut “while most consumer discretionary stocks have been horrendous this year, we’ve had some pools of strength, too, and many of them can work in 2023,” according to Cramer.Here are his picks:Genuine Parts, O’Reilly Automotive and AutoZoneCramer highlighted these three auto parts stocks as potential buys, stating that AutoZone is his favorite. With used car prices coming down and new car prices likely to follow, consumers are more likely to fix up their old car next year than purchase a new one, he reasoned.Ulta BeautyWhile the company reported a solid earnings beat and boosted its outlook earlier this month, investors shouldn’t be greedy with the stock, especially if it sees a big gain, Cramer advised.TJX CompaniesThe parent company of T.J. Maxx, Marshalls and HomeGoods will benefit from the excess inventory the holidays will leave behind, he said.
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