How tough has the huge spike in mortgage rates been for the housing related retail names?
"That's one of the big questions I've been pondering," said Cramer on Thursday's Mad Money.
Results from Pier 1 paint a mixed picture.
Pier 1 lowered its full-year EPS outlook to $1.23-$1.29 from a prior outlook of $1.27-$1.32, putting the new guidance firmly below Wall Street forecasts of $1.31.
Yet, "It's a terrific home furnishings retailer with over a thousand stores that has gone through a monumental turnaround," Cramer said.