Both Skechers USA and Steven Madden reported strong quarters, and Jones Apparel and Deckers Outdoor have made positive statements as well. Cramer thinks that if the market continues to turn up, investors will return to the companies that reported the best quarterly numbers.
In addition to shoes, Cramer said that housewares is another segment of retail that investors should consider. He endorsed Williams-Sonoma , though urged caution for now with Bed Bath & Beyond, which “has traded very poorly here.”
Lastly, Cramer defended Northrop Grumman’s share-repurchasing plan, saying the company has retired 10% of its stock since 2006. While the market seems to have shrugged off the NOC’s efforts, he said, “This is a buyback that is a model for what I’d like to see from companies.”
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