Until They Trim, Forget Retailers, Restaurants

Doesn't it seem like another day where it is impossible to make money? We have earnings season without any sense that anybody's numbers can be raised. We have an ennui that comes from months of pounding and indecision, and we have stocks that can't seem to go up to save their lives.

Take retail and restaurants. Yet you can't help but wonder whether a Darden (DRI - commentary - Cramer's Take) or a Brinker (EAT - commentary - Cramer's Take) or a Coach (COH - commentary - Cramer's Take) or a Limited (LTD - commentary - Cramer's Take) can come back. You can't help but wonder if there's not an Urban Outfitters (URBN - commentary - Cramer's Take) out there that can turn around or a TJX (TJX - commentary - Cramer's Take) that can suddenly hold its own and start rising.

Can Ralph Lauren (RL - commentary - Cramer's Take) be that bad? Are J.C. Penney (JCP - commentary - Cramer's Take) and Kohl's (KSS - commentary - Cramer's Take) never coming back? Did Macy's (M - commentary - Cramer's Take) so shoot itself in the foot that it can't recover?

Lowe's (LOW - commentary - Cramer's Take)? Saks (SKS - commentary - Cramer's Take)? Bed Bath & Beyond (BBBY - commentary - Cramer's Take)? What about Liz Claiborne (LIZ - commentary - Cramer's Take) and Jones NY (JNY - commentary - Cramer's Take)?

Does anyone even know how vicious the bear market in these stocks is? Not all of these companies are brain-dead.

Or how about Morton's (MRT - commentary - Cramer's Take), Ruth's (RUTH - commentary - Cramer's Take), Ruby Tuesday (RT - commentary - Cramer's Take)? Can't they be worth something?

Ever since the collapse of private equity these stocks have declined pretty relentlessly. They have worn people down like you wouldn't believe.

But what happens in a turn? Shouldn't we think about putting on a basket of these? Maybe that Mortons/Ruth's/Ruby group?

Their balances sheets are almost all really strong. The consumer can come back. The earnings stream is there.

Costco (COST - commentary - Cramer's Take) isn't the only retailer in this country doing well, give or take Guess (GES - commentary - Cramer's Take) and J. Crew (JCG - commentary - Cramer's Take), Urban Outfitters (URBN - commentary - Cramer's Take) and TJX (TJX - commentary - Cramer's Take).

But the group has been gaffed and gutted. Somehow I think that some of these can come back. I know it's not gonna happen now. Too many questions. But when? When things turn you won't be able to buy these anywhere near where they are.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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