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More Squawk From Jim Cramer: Avoid Macy's (M) Stock on Department Stores' Secular Decline

NEW YORK (TheStreet) -- Macy's (M - Get Report) stock is plummeting 13.39% to $31.99 on heavy trading volume this morning after reporting a 7.4% year-over-year decline in first quarter revenue and slashing its full-year same-store sales outlook.

"I can sit here and say this over and over again, but people just don't go to the mall like they did," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

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He mentioned that millennials would much rather shop online at (AMZN) than go to a mall.

"Millennials are a whole big part of the population, and they're taking over...