By Jim Cramer, TheStreet

Deckers (DECK) and Gap (GPS) complete a week that makes you dazed that anyone in retail is cautious. We don't get these kinds of numbers we've been seeing and allow ourselves to be cautious. But other than TJX (TJX) this week, I didn't hear any company in the retail business say anything but they weren't sure where the next dollar was going to come from.

Deckers is, frankly, unbelievable. In a world where stocks like this ultimately peak and then become great shorts, its Uggs franchise is relentlessly growing, just doing all of the right things and putting on numbers that flabbergast. A 94-cent beat! Teva sandals, the original Deckers brand, is also on fire, and they are talking about the flexibility to add another brand. Truly remarkable.

One could argue that the cheap brand of Gap, Old Navy, of course did well because it's a trade-down play. But that would overlook the fact that it has been a sluggish performer for ages. No more. The rest of the company's no slouch either, although I think that the endless buybacks -- another one just announced -- have produced nothing in the way of shareholder return. Just give it back in an increased dividend and the shareholders would be better served.

Limited (LTD)? Macy's (M)? Sears (SHLD)? Home Depot (HD)? Kohl's (KSS)? Saks (SKS)? They all did tremendously. Home Depot and Kohl's were truly magnificent.

Bing: More on Retail

This was a standout quarter and, yes, it is worth reminding people that the headlines about this quarter even two months ago was that it would be disastrous.

The pundits/reporters/commentators, once again, could not have been more wrong.

At the time of publication, Cramer was long Home Depot.

Jim Cramer is co-founder and chairman of TheStreet. He contributes daily market commentary for TheStreet's sites and serves as an adviser to the company's CEO.

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