Cramer: Attention investors, 'This is huge!'

After sifting through a raft of earnings, Jim Cramer has found new reasons to feel bullish about a previously unloved sector.

"From low inventories, to new categories and unmet needs, to lower raw costs, to almost solidly domestic customers, I think the apparel group is about as good as it gets right now," Cramer said.

And although Cramer's comments suggest the entire sector could rally, rather than buy an ETF, the "Mad Money" host prefers to invest in individual stocks.

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Digging down into this sector, PVH is among Cramer's favorite names. "I'm very excited about this stock here and wish my charitable trust owned more of it," Cramer said.

Part of Cramer's outlook stems from his recent conversation with CEO Manny Chirico, who said "our inventories as well as overall industry-wise inventories, at retail are clean and back in balance as we enter September."

"That's huge, people, huge," Cramer added. "Excessive inventory is the bane of all retailers. It means you need to mark down your merchandise aggressively and that wrecks your margins. Lean inventories, on the other hand, set the stage for terrific profits."

Cramer thinks those lower inventories, combined with cheaper cotton and the successful integration of Warnaco, should all bode well for PVH shareholders.

In addition, Cramer said Deckers looks like a "buy," too.

"Lots of people gave up on this company because they view it as nothing more than UGGs. I don't blame them. Deckers has relied on this one brand for far too long. What I think people are missing, though, is that the company is transforming itself. It's now truly a multidimensional company."

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And Cramer thinks under the stewardship of CEO Angel Martinez, Deckers could thrive. "I think he could do what he did to Reebok during his stay there," Cramer said.

Also Cramer is bullish Skechers. And although it's rallied 87 percent year to date, Cramer is a buyer of dips. "Yes, I think the move can continue unabated. When Skechers dips, I'd jump in."

Finally, Cramer is a fan of Under Armour, however also on a dip. "You should know this stock trades with the high growth, high multiple contingent. It's as if it were a cloud, e-commerce or biotech company," he said.

And even though the stock is now among the most expensive stocks that Cramer follows, "I expect the fantastic performance to continue," he said. Therefore, even at 49 times earnings with a $15 billion valuation, "I would buy on a pullback," he said.

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