Amid strong earnings from Michael Kors, TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said the luxury goods trade is back.

"The high end of the department store is doing quite well," Cramer said. 

Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Why You Need This $86,000 Jeep Grand Cherokee Trackhawk

Why You Need This $86,000 Jeep Grand Cherokee Trackhawk

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Winter Weather Escape: Norwegian's 180-Day Cruise Around the World

Winter Weather Escape: Norwegian's 180-Day Cruise Around the World

What the Government Shutdown Means for Retail

What the Government Shutdown Means for Retail

VW CEO: 'You Have to Compete, But You Also Need to be Smart'

VW CEO: 'You Have to Compete, But You Also Need to be Smart'