Jim Cramer said that the fourth quarter was “magnificent for retailers” despite the doom and gloom forecasts that seem to be daily in the headlines.

Deckers Outdoor (DECK: 87.25 +1.21%) – with its highly successful Ugg boots brand, saw an impressive $0.94 earnings beat.

Gap (GPS: 21.28 -1.85%) – the retailer reported earnings that were $.02 above the Street estimate and their positive outlook was accompanied by an 18% dividend increase. Although Cramer did express some concern over the Gap pursuing both a dividend program and a stock repurchase program.

True Religion (TRLG: 37.00 -0.78%) – despite the very high price of their products, the company was able to report a good quarter with earnings at $.04 ahead of consensus estimates.

Home Depot (HD: 45.17 -0.64%) and Sears Holdings (SHLD: 48.80 +3.17%) – strong earnings by the home retails signal a potential turnaround in the housing markets.

Saks (SKS: 10.88 +1.49%) and Macy’s (M: 35.86 -0.03%) – sales were even strong in apparel stores.

The positive results from retail stocks are a very bullish indicator and seem to have sent the bears into hiding for the time being.