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

(Update: Additional analyst's commentary inserted.)

There are not many options when it comes to investing in retail these days. Personal spending has fallen for eight of the past 10 months, investors are eagerly awaiting consumer-sentiment numbers, due this Friday, for any sign of hope.

But if you are looking for a turnaround story to snatch up, Jim Cramer recommends Urban Outfitters (URBN Quote) -- or at least he did during his "Mad Money" segment on Monday.

Last month, the contemporary apparel retailer beat Wall Street's first-quarter forecast by a penny, aided by stronger margins and fewer discounts. ...