Cramer: Nike's Q2 Results Were More Of A Shakespearean Tragedy Play

Nike Inc NKE reported its second-quarter earnings on Thursday, that fell below analysts’ expectations.

Jim Cramer provided his perspective on Nike's results on CNBC.

"You listen to the conference call and Nike is a great American company -- they actually talk, they like to give you a thesis. Last quarter was customer-centric, beautiful; it was like a great play. This one was a little more of a Shakespearean tragedy play in the sense they told you how terrific this is as a growth stock," Cramer said.

Future Outlook

"Morgan Stanley comes out with a note today saying...buy the weakness. I think, a week from now, we will look at Nike, after the New Year, we will look at Nike and say wow $92 and $93, we should have started over again. Remember that it's had an amazing run from $79 to $98. Well it's still just one quarter, but China is good, Europe is good," Cramer added.

Cramer compared Nike with other retailers, saying, "this is what I talk with Gary Freeman from Restoration Hardware. I say ‘Gary, what can you possibly do next to better your numbers ?’ Nike was in that shape. Mark Parker is so good. Now, Kevin Plank at Under Armour is so good. They speak a lot about women’s apparel, that’s been a big Kevin Plank theme. So, I think people are going to say 'well maybe Under Armor is nipping at the heels' -- no, it's just a good story."