V.F. Corporation (VFC) Is One Of My Favorite Turnarounds, Says Jim Cramer

We recently published 10 Latest Stocks Jim Cramer Discussed In An Episode Examining Turnarounds. V.F. Corporation (NYSE:VFC) is one of the stocks Jim Cramer recently discussed.

V.F. Corporation (NYSE:VFC) is an American apparel company. The firm is currently in the midst of a turnaround effort, and it generated headlines yesterday after announcing that it would sell its Dickies business for a $600 million price tag. Cramer discussed V.F. Corporation (NYSE:VFC) in detail:

“One of my favorites, my favorite turnarounds, the turnarounds are hard, witness the negative note about Under Armour today, is what Bracken Darrell is trying to engineer at VF Corp. He missed, he didn’t do it last quarter, the quarter being again tough for CEOs. But he’s just sold Dickies which is a great brand. For 600 million bucks. Now this is gonna matter because the balance sheet had been a problem. So I think it gives new life to the buyback. To the buying of, he bought so much stock at the open market. Now we can talk about how much, that Musk bought, but in relation to the market, he buys like a billion dollars worth of stock over the last couple of quarters. Now I think that this is a buy, because, it shows me the brand’s maybe worth more than the people realize. And the people felt that Dickies was a tired brand. For a tired brand he got 600 million dollars. I think it’s very important.

“I think that Vans is still problematic, he will turn Vans, he’s a turnaround artist. I think that the first, first turn go around there was an analyst [inaudible] that was very harsh. I think that that’s behind them. I think that you can buy it, it’s not a fast turn because when you get this casual clothing line, you know how hard it is. . . but this turn is going to happen, I wanna to down there and see what’s going on. It’s that good. Because, look Vans is a storied name. I think it’s a very, very good company.

“As long as the balance sheet’s good, which is why I am so happy about the selling of Dickies for 600 million.”

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Disclosure: None. This article is originally published at Insider Monkey.