Consumer trends will gauge the state of inflation

CNBC’s Jim Cramer said Friday that any signs of consumer negativity next week will be a welcome sign for the Federal Reserve in its fight against inflation.

“I know it’s a total drag to hope for negativity, but that’s what we need right now” to bring inflation down, he said. “I bet we’ll find that confidence is falling rapidly.”

The “Mad Money” host said he’s keeping watch on the consumer price index and University of Michigan consumer sentiment index coming out next week to confirm his prediction that consumer confidence is dropping.

“That’s exactly what the Fed doctor ordered,” he said.

He also previewed next week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet.

Tuesday: J.M. Smucker, Cracker Barrel

J.M. Smucker

• Q4 2022 earnings release before the bell; conference call at 9 a.m. ET
• Projected EPS: $1.88
• Projected revenue: $1.98 billion

Cramer said that if the food manufacturer’s stock manages to rally on the heels of its quarterly earnings report, it’ll be a good omen for the rest of the industry.

Cracker Barrel

• Q3 2022 earnings release tbd; conference call at 11 a.m. ET
• Projected EPS: $1.27
• Projected revenue: $790 million

Investors need to take note of any mentions of a more frugal consumer from the restaurant chain, Cramer said.

Wednesday: Thor Industries, Campbell Soup, Five Below

Thor Industries

• Q3 2022 earnings release before the bell; conference call tbd
• Projected EPS: $4.72
• Projected revenue: $4.16 billion

Cramer said the recreational vehicle manufacturer’s earnings call is a must-listen for investors who want a read on the state of inflation.

Campbell Soup

• Q3 2022 earnings release at 7:15 a.m. ET; conference call at 8 a.m. ET
• Projected EPS: 61 cents
• Projected revenue: $2.04 billion

“I like Campbell Soup’s management. I bet the stock can work its way higher,” he said.

Five Below

• Q1 2022 earnings release after the close; conference call at 4:30 p.m. ET
• Projected EPS: 58 cents
• Projected revenue: $654 million

“Five Below’s got a good concept, good management, good stock,” Cramer said.

Thursday: Signet Jewelers, DocuSign, Vail Resorts

Signet Jewelers

• Q1 2023 earnings release at 7 a.m. ET; conference call at 8:30 a.m. ET
• Projected EPS: $2.38
• Projected revenue: $1.81 billion

Cramer said he expects the company to put up strong numbers for its latest quarter.

DocuSign

• Q1 2023 earnings release after the close; conference call at 4:30 p.m. ET
• Projected EPS: 56 cents
• Projected revenue: $683 million

Cramer said he expects a strong but stagnant performance from the company.

Vail Resorts

• Q3 2022 earnings release after the close; conference call at 5 p.m. ET
• Projected EPS: $9.03
• Projected revenue: $1.15 billion

Cramer said he’s interested in knowing if the mountain resort company is concerned about an economic slowdown.