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What Works in Retail Right Now

Not all of retail is working right now, but the shoe stocks certainly are worth buying.

“It’s very clear that this is one of the most prevailing bull markets,” Cramer said during Thursday’s Stop Trading!, “in an otherwise not-so-bullish tape for retail.”

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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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