Don’t think Sears Holdings reported disappointing earnings, Cramer said during Thursday’s Stop Trading!, just because the stock is down. Ross Stores , Limited Brands and TJX Cos. all delivered strong quarters this week only to see their share prices decline.

In fact, Sears’ earnings surprised the Mad Money host, he said. The company generated more cash than he thought it would, held more cash on its balance sheet, bought back more shares and put itself in position to refinance more debt after reducing its total debt. And Kmart showed a bump in sales, too.

“Eddie delivered,” Cramer said of Sears Holdings Chairman Edward Lampert.

Still, Cramer wasn’t yet willing to recommend the stock. He said he first needed to see “a quality CEO” with good merchandising experience at the helm and to have “a better [shopping] experience.”

“And that does matter to me,” Cramer said, “because I have an unbelievable experience when I go to Costco . I have a better experience when I go to Walmart .”

Call Cramer: 1-800-743-CNBC

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com