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In the End, Retail Is an Earnings Story

By Jim Cramer

 About this article:
 The lunacy of today, the bullish lunacy of today, is expressed by the dichotomy between Whirlpool and Sears . First, the thesis. Retail is rallying fabulously because of the two-month low in jobless claims. People are buying JCPenney , Ralph Lauren , Kohls , Nordstrom , Phillips-Van Heusen , Costco and a bunch of others because they are betting "we have no recession." The thesis, on a day like today, is so loud, so glaring, that you feel you have to be a buyer. Now, let's talk Whirlpool. Horrible quarter. Clearly business is terrible. Who is among WHR's largest clients? Sears. The stock should be down big, it's too much of their business not to be down big. But how is it doing? Sears is ramping. Why? It is a retailer. We buy early-cycle retailers when things get better. Now, you would say, "Jim, Black &...

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