Wall Street saw a strong set of earnings from Target (TGT - Get Report) and Lowe's (LOW - Get Report) Wednesday, with both stocks soaring in double digits in early trading.

Real Money Stock of the Day Target reported net income of $938 million, or $1.82 a share, versus $799 million, or $1.47 a share, in the comparable year-ago quarter. The real bullseye, however, was the fact that the retailer raised its full-year guidance.

In a morning column on Real Money, Jim Cramer wrote that Target's strong earnings can be attributed to a great CEO and a phenomenal turnaround strategy. "Cornell's doing it with terrific same-day pick-up initiatives and new store formats that were risky but now look like they are paying off," Cramer wrote.

Market pundits across the board widely agree that Target couldn't have had a better quarter, but how much does Target's success depend on a strong consumer?

Jim Cramer broke it down during TheStreet's Cramer Live Show.

More from Cramer Today

Full Replay: Jim Cramer Breaks Down Target's Earnings and Fantasy Football

Jim Cramer: The One Thing Investors Should Do Before Investing in Retail

Jim Cramer Breaks Down What Wall Street and Fantasy Have in Common

Premium Pick: Jim Cramer: Want Proof of Economy's Strength? Look to Home Depot

NYSE LIVE Replay: Time to Shop? Jim Cramer Weighs in on Kohl's Earnings and the Market

Retirement Fears Solved: Scared of Running Out of Money? Here's How to Deal With This Retirement Fear

Trader Tips: After Such a Volatile Week, Investors Should Look at These Stocks

Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud

Catch Up: Today's Top News Videos Below

Editor's Note: This story has been updated.