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NEW YORK ( TheStreet) -- Next week's trading will hinge on the latest jobs report, Jim Cramer cautioned "Mad Money" viewers Friday as he laid out his game plan. Cramer said the wealth effect has been enough to overcome the market's sequestration fears, but worries about the Federal Reserve and its rampant bond buying all depend on a jobs number that's not too good, nor too bad. Beyond the jobs report, Cramer said Ascena Retail Group ( ASNA) will have his attention on Monday, as this once-loved retailer has become terribly disappointing. Cramer said he wants to see a solid quarter before even thinking about investing in this name. Tuesday brings earnings from the rural-based Tractor Supply ( TSCO). Cramer said he's betting this company takes out its all-time high. Then on Wednesday, a lot of activity. Brown Forman ( BFB) is holding an analyst day and Cramer said he'd be a buyer on weakness. Likewise with Petsmart ( PETM), which reports earnings and Honeywell ( HON), both Cramer faves. He noted that he's worried about Exxon Mobil ( XOM), however, and would not be a buyer. Also on Wednesday, grocer Safeway ( SWY), followed by Kroger ( KR) on Thursday. Cramer said he'd use these companies' earnings to pick up some Whole Foods ( WFM) on the cheap.
Speculation FridayFor "Speculation Friday," Cramer said that sometimes it's worth taking a second look at under-performing stocks that still have the potential to turn themselves around. That's certainly the case with beauty product maker Elizabeth Arden ( RDEN), a stock that was crushed 16% on Jan. 31 after the company reported miserable results and slashed guidance for 2013. Cramer said that after making some negative remarks about the company shortly thereafter he received a letter from the company explaining its situation. Turns out Arden is in the middle of a major brand repositioning, with all of its products and packaging being redone in a more upscale fashion. Arden is also cutting the number of stock-keeping units, or SKU, it produces, making things less confusing for customers to buy and easier for retailers to buy. Among the stores that have received the new look, sales are up over 20%, said the company, and with new Internet-based training for all their staff, there's only room for upside. Cramer noted that Arden's international growth is also attractive as the company has little European exposure.
Now that the company has slashed its guidance to where it can beat it, the stock is more attractive, trading at 13.5 times earnings with a 12% growth rate. Cramer said the company remains speculative, but it just might have what it takes for successful turnaround.
Action Alerts PLUS . On the surface, it may seem that both companies did well when they last reported. Lowe's delivered a three-cent-a-share earnings beat on higher revenue, but guidance fell below forecasts, sending share lower by 4.8%. Home Depot also delivered a three-cent beat on stronger revenue and also gave guidance below expectations. But Cramer said the matrix that matters for these home-improvement giants is same-store sales, where Lowe's came in at just 1.9% growth while Home Depot rocked the house with a 7% gain. Cramer said that's the widest split in growth in over 13 years for these companies. Home Depot also offered investors its fourth dividend boost in recent years and a stock buyback that was larger than that of Lowe's. When you boil down the earnings, Home Depot has better stores in better locations and a better management team that knows how to execute, said Cramer.