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Earnings season has already started and investors need to get ready for companies to cut their numbers, Jim Cramer cautioned his Mad Money viewers Friday. Even with lower interest rates likely soon, Cramer said additional tariffs kicking in on Oct. 15 will rattle the markets.

Cramer's game plan for next week begins on Monday with the latest Chinese PMI data. He said this is an important gauge of Chinese manufacturing and will likely signal how willing the Chinese may be to negotiate on trade.

Next, on Tuesday, Cramer will be following the earnings from Domino's Pizza (DPZ) - Get Domino's Pizza, Inc. Report and Levi Strauss (LEVI) - Get Levi Strauss & Co. Class A Report  . Domino's is suffering from a mountain of venture capital backed delivery competition, while Levi's also is having a rough time in the apparel space.

On Wednesday, we'll get an update on the housing market with the latest mortgage application numbers. This number should be strong, as interest rates tick lower.

Then on Thursday we'll hear from Delta Airlines (DAL) - Get Delta Air Lines, Inc. Report , which has been in great shape, but Cramer worried competition may be crimping earnings soon. We'll also hear from Hormel Foods (HRL) - Get Hormel Foods Corporation Report , which holds an analyst meeting Thursday. Cramer said he'd buy Hormel ahead of this meeting. Likewise with Wendy's (WEN) - Get Wendy's Company Report , which holds its analyst day on Friday. 

You know Cramer's a passionate Eagles fan, right? Don't miss his amazing Bull Market Fantasy, with live shows Tuesday and Thursday a 10:45 a.m. E. It's free and it's fun.

Clorox Resetting Expectations 

The consumer packaged goods stocks have been on fire recently, Cramer told viewers, except for Clorox (CLX) - Get Clorox Company Report , which is currently down for the year after the company slashed forecasts at its analyst meeting this week. Is the stock a buy? Cramer said it is.

According to Cramer, this week Clorox reset analysts expectations and may now be in a position to under-promise and over-deliver. He said the company's management is smart, taking a financial hit now in order to invest in its brands and new innovations to help differentiate itself against growing private-label competition.

This is not the first time Clorox has had to reinvent itself, Cramer concluded, which is why he remained a believer in the company's management. 

Cramer and the AAP team are looking at everything from earnings and tariffs to the Federal Reserve. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.

Executive Decision: Stitch Fix 

For his "Executive Decision" segment, Cramer sat down with Katrina Lake, CEO of Stitch Fix (SFIX) - Get Stitch Fix, Inc. Class A Report , the subscription clothing service that saw its shares initially plunge after it reported earnings and informed investors that it was continuing to invest in growth. Shares have since begun to recover as investors have taken a second look at the company's quarter.

Lake said that Stich Fix has been profitable for more than five years, which has given the company the flexibility to reinvest in its business as well as expand into the U.K. and into children's clothing, all while remaining in the black. She said its personalized business model continues to resonate with their customers, which can shop at home and only buy they items they love.

When asked about the effects of tariffs, Lake said they continue to diversify away from China, but as a full-price retailer, they have price flexibility to offset the increases from tariffs.

Finally, turning to the issue of sustainability, Lake explained that Stitch Fix has always avoided "fast fashion" and sticks with items you'll wear for a long time, helping to reduce the waste that goes into landfills. 

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Not All REITs Are Equal 

With bond yields paying next to nothing, investors are turning to the high-dividend REITs for income. But not all REITs are created equal, Cramer reminded viewers, as he listed a few promising REIT categories.

Among the biggest winners this year are the healthcare REITs, up an average of 29%. Cramer said Ventas (VTR) - Get Ventas, Inc. Report remains his favorite in this group, trading at 19 times operating funds per share. In the lodging category however, Cramer said companies like Host Hotels (HST) - Get Host Hotels & Resorts, Inc. Report are fighting against secular trends.

Cramer was bullish on Prologis (PLD) - Get Prologis, Inc. Report in the industrial space and Alexandria Real Estate (ARE) - Get Alexandria Real Estate Equities, Inc. Report among the office REITs. AvalonBay (AVB) - Get AvalonBay Communities, Inc. Report topped Cramer's recommendations for residential REITs, while Kimco (KIM) - Get Kimco Realty Corporation Report was his favorite in the retail space given the company has no mall properties.

Finally, amongst the specialized REITs, the data center REIT, Equinix (EQIX) - Get Equinix, Inc. Report , remained Cramer's favorite.

Cheap or Expensive? 

In his "No-Huddle Offense" segment, Cramer said when looking at stocks with low price-earnings multiples, investors need to ask whether the stocks are cheap or expensive.

In the case of the automakers, Cramer said it's too early to tell if the economy is headed for recession. But for stocks like Micron Technologies (MU) - Get Micron Technology, Inc. Report , the stock's gigantic buyback makes it a buy.

Cramer was bullish on Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report , an Action Alerts PLUS holding, as well as Wells Fargo (WFC) - Get Wells Fargo & Company Report , both of which have low multiples as well.

Even in the retail space, Cramer said investors are judging stocks like Macy's (M) - Get Macy's Inc Report and Kohl's Stores (KSS) - Get Kohl's Corporation Report too harshly. 

Lightning Round

In the Lightning Round, Cramer was bullish on Nike (NKE) - Get NIKE, Inc. Class B Report , Apple (AAPL) - Get Apple Inc. Report , Kemet (KEM) - Get KEMET Corporation Report and Enphase Energy (ENPH) - Get Enphase Energy, Inc. Report .

Cramer was bearish on Huami (HMI) - Get Huami Corp. Report and Hanesbrands (HBI) - Get Hanesbrands Inc. Report

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL. GS, KSS.