Bachelder painted a mixed picture for the quarter. She said while sales were up 1%, overall traffic was down, although it's still less than the quick-service restaurant group overall. Among the major hurdles is consumer confidence. Bachelder said consumers need to be upbeat about their futures in order to start spending again.

Popeyes still remains a turnaround story, Bachelder noted, with 60% of its stores now remodeled and seeing a 34% uptick in sales as a result. When asked about saturation, Bachelder said Popeyes is not saturated in any market yet, which is why the company opened 194 new locations just last year. New national advertising has people lined up and waiting at many of the new restaurants, she continued.

When asked about international sales, Bachelder said that is another terrific opportunity for Popeyes. She said the company has opened a dozen locations in Peru, which are off to a great start.

Cramer remains bullish on the newly renamed Popeyes.

Peltz' Sweet Tooth

Following in the footsteps of successful activist investors is a fool's game, unless that activist investor is Nelson Peltz, Cramer told viewers. That's why Peltz' recent interest in snack-maker Mondelez (MDLZ) should have caught investors' attention.

Cramer explained that unlike many activists, which invest only for quick gains, Peltz has a 30-year track record of providing great returns for the long haul. His involvement with Heinz (HNZ) has seen a 75% gain for shareholders as margins improved and innovation flourished thanks to Peltz' positive input.

Other Peltz investments included Wendy's (WEN), which has seen a 97% gain; Ingersoll-Rand (IR), 77%; and Legg Mason (LM), 75%.

Don't expect instant returns from Mondelez, Cramer warned. But do expect that Peltz will know what to do with such great brands as Ritz crackers, Chips Ahoy cookies and Philadelphia cream cheese. Even an increase in margins from 12% to 16% would be huge for the company and shareholders alike.

Lightning Round

In the Lightning Round, Cramer was bullish on Kinder Morgan Energy Partners (KMP), BP (BP), BioMarin (BMRN) and Cameco (CCJ).

Cramer was bearish on Trinity Industries (TRN).

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