CNBC's Jim Cramer reveals a cheat sheet for finding safe sectors to invest money in this volatile market environment. The "Mad Money" host sits down with Spam-maker Hormel CEO Jim Snee to hear about its products journey and former J. Crew CEO Mickey Drexler. In Thursday's episode, Cramer makes a new call and a bullish case for one retail company that has been wading through troubled waters: Bed Bath & Beyond.

CNBC's on Thursday gave investors a look at his procedure for determining stocks worth buying in a volatile market that's facing pressure on various fronts.

The major U.S. indexes posted a second day of gains in the session after losses on Monday and Tuesday, but the "Mad Money" host said Wall Street "didn't get what we desperately need, which is a better reason to buy more stocks here."

"Let me walk you through my rubric for what's worth buying in this treacherous moment," he said.

Hormel Foods CEO Jim Snee told Cramer that the company's "food journey" is harnessed to its commitment to corporate and social responsibility.

In a sitdown interview at the New York Stock Exchange, Snee said Hormel focuses on three pillars: employees and partners, sustainability goals and giving back to local communities, and products that better the lives of consumers.

The host was inquiring about the company's "Impact Per Shares," which Cramer uses to discover what enterprises are doing to improve their impact, particularly on the environment.

"It could be for a health benefit, it could be for a craving, right, a lot of different reasons," Snee said in the interview, "but as you think about our portfolio, it's broad, it's deep, and it's improving the lives of consumers. So those three pillars on our food journey [is] where we're making a difference."

Bed Bath & Beyond is a stock worth buying now that the company has a CEO who is "competent," Cramer.

The host has long advised viewers to stay away from the home retailer. Not anymore.

"I think it's time to go positive on this one," Cramer said. "Bed Bath's been punished enough. Now that they've got a competent CEO, better than that, a great CEO coming in, I'm betting the stock could have a lot more upside."

-Reporting from Kevin Stankiewicz

Mickey Drexler, the retail legend that once led Gap and J. Crew, paid "Mad Money" a visit to let Cramer and viewers know his thoughts on the future of retail. The retired former CEO is also a past board member of Apple who worked with Steve Jobs to open the tech giant's first store and develop its retail footprint.

Cramer asked Drexler what he thinks is the biggest challenge that malls face in the modern shopping landscape.

"Well, you know, to me, and everyone says, it's direct to consumer. I think the structure is — when there are two profits, two mark ups instead of one, it already inflates the perceived value of goods," he explained adding "they're not doing enough to make them creative, compelling places you want to hang out in, with the exception of some."

Cramer rehashed his stance that the slowing U.S. economy is in need of another interest rate cut from the Federal Reserve.

He explained that there are "two camps" of thinking that oppose a reduction in monetary policy: one group wants the federal funds rate to remain in place for fear of inflation, while the other is hoping for a recession to damage President Donald Trump's reelection odds.

With the ongoing U.S.-China trade war, falling commodity prices and easing business investing, Cramer said Chairman Jerome Powell's central bank is one solution to the problem.

"Now, we don't have a political agenda here on 'Mad Money,' aside from higher stock prices," the host said. "And I can tell you, in no uncertain terms, that rate cuts would be good for the economy and therefore would be good for the stock market."

In Cramer's lightning round, the "Mad Money" host zips through his thoughts about callers' favorite stock picks of the day.

Verizon: "Oh, my. Four-percent yield. Good balance sheet. Good business. I say buy, buy, buy."

: "No, private prisons — we are against those. They are sell, sell, sell. We've been against them for, like, forever."