"People are saying, 'If it's in the mall, it ain't happening,'" Cramer said on "Squawk on the Street."
"This is devastating," Cramer said. "Nordstrom has spent billions online."
Shares of VF Corp. were also lower Friday. The parent of North Face and other apparel brands reported that it earned an adjusted 95 cents per share for its latest quarter, missing estimates by 6 cents, and its revenue also was below analyst forecasts. VF blames a softer consumer environment, warmer-than-expected weather, and a stronger U.S. dollar, but said it considers these factors were a relatively short-term challenge.
"Apparel, department stores, in other words, stay away," said Cramer. "I was going to shop this weekend. I got to hold off. I'm too depressed."