Cramer Goes Shopping for Bargain Stocks
When the averages fall, Cramer goes on the hunt for bargain stocks.
On Friday, he found Warnaco , which designs and licenses a range of brands, including Calvin Klein, Speedo and Chaps, among others. Its stock barely fell on Friday, but Cramer thought it looked cheap at nearly 3 points off its 52-week high and selling at 13.5 times earnings with a 15 percent long-term growth rate.
Although based in New York City, Cramer said Warnaco is an international player. Fifty-six percent of its sales come from outside the U.S. It is currently experiencing strong growth in Asia and Latin America. Cramer thinks that growth could continue, but to learn more about its future prospects, he spoke with CEO Joseph Gromek. Check back soon to see the full conversation.
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