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The time is right to buy VF Corp. [VFC
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], Cramer said on Wednesday’s Mad Money.
VFC is the apparel company behind brands like North Face, Jansport and Nautica. Most of retail is still performing poorly and even VFC is trading down despite beating its earnings. But this company has huge exposure to outdoor, sportswear and active-wear, which Cramer called the best and least seasonal part of the apparel complex. And it’s cheap.
Speaking to Cramer by phone, VF CEO Mackey McDonald expressed a strong believe that because of VF’s highly diversified portfolio, international growth and track record on acquisitions, the company will not become another dead retail story.
McDonald acknowledged the concerns about consumer spending and apparel sales that have blanketed the sector, but said VF’s “powerful lifestyle brands,” including the newly acquired Lucy and 7 For All Mankind, leave the company better poised to grow than many of its competitors. Consumers may be spending less in general, but McDonald said they are spending more on certain brands. That’s a good sign for VF’s bottom line.
The stock is down in part because of the unseasonably warm weather, Cramer said, and also because McDonald is stepping down as CEO even though he will be staying with the company in a managerial role. Cramer doesn’t say these make for valid reasons to sell VFC.
In fact, VFC is the only stock in the retail industry Cramer would like to own. If the stock dips below $80, he recommended pulling the trigger.
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