This column was originally published on RealMoney on April 4 at 9:11 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here .

The market may not instantly reward Best Buy ( BBY) for what it's doing. Yet, it is clear that even when Best Buy is fighting a company that's fire-saling product -- Circuit City ( CC) -- the profitability is still there for this great retailer. In fact, this quarter may be the benchmark for what a best-of-breed retailer can do.

I think that what will sift through the quarter is a little Pyrrhic. You can see plenty not to like.

But the only real takeaway is that this company has immense profitability in a most challenging environment of falling home values, a lack of people moving house and a vicious wounded competitor. It will take a long time for Circuit City to collapse, though, because it still has $4 per share in cash.

Would I buy Best Buy here? Sure. Just don't expect much until Circuit City is finished blinking. But this BBY stock is beginning to remind me of J.C. Penney ( JCP) when Federated ( FD) decided to consolidate with May. You got a very big move before and during the collapse of the competitor. The same could be happening here without a problem.

Random musings: I hope you enjoy tonight's "Mad Money" from Indiana University, which is a great school. My guest -- and IU alum -- Mark Cuban and I disagree on investing, could be some fireworks. Always is with Cuban.
At the time of publication, Cramer had no positions in any of the stocks mentioned in this post.

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. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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