NEW YORK (TheStreet) -- TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, had a lot to say about retail stocks on Friday. And there is a "shoe bull market" now, he said on Friday's segment of CNBC's "Cramer's Stop Trading."
Furthermore, Nike (NKE) also beat on top- and bottom-line estimates when it reported its results in late September. Then on Thursday, the company boosted its annual dividend to $1.12 per share, up over 16% from its prior dividend.
The shoe market is less price sensitive and more personalized than investors thought, Cramer reasoned.
And although shares of Nike seem rich in valuation, the company is worth the premium. The stock will go higher, Cramer said, because of its strong brand and impressive performance in China and Western Europe.
-- Written by Bret Kenwell
TheStreet Ratings team rates FOOT LOCKER INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FOOT LOCKER INC (FL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: FL Ratings Report