'Mad Money' Spotlight: Cramer's Retail Plays (Updated)

As UBS analyst Roxanne Meyer says, the company has done a good job at playing defense when it comes to inventory management and cost control, and these numbers are slightly better than prior results, but it's not enough, for you to jump aboard.

The biggest difference between Coldwater Creek and Urban Outfitters, it should be noted, is that Coldwater was suffering before the recession even began, as the retailer lacked newness.

Indeed, Meyer placed Coldwater Creek on her "least preferred" stock list, citing a mismanaged product assortment. She wrote in a note on Tuesday that the product assortment through spring is too basic and lacks differentiation.

Urban Outfitters had been more consistently trend right -- and, once the economy rebounds, appears well positioned to regain shoppers.

Cramer notes, however, that at the end of the day, retail is the most difficult segment in the market to navigate right now -- and he would hold off buying any player in the group. So consider yourself warned.