[video] Quick Take: Jim Cramer Says VF Corp's Miss Is 'A Little Disturbing'
NEW YORK (TheStreet) -- Shares of VF Corp. VFC are lower by almost 6% on Friday after missing on both top and bottom line earnings estimates.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the miss was "a little disturbing" because the company doesn't usually miss earnings estimates.
He argued that Europe was strong, as was its North Face brand. There may be some weakness in its jeans-wear business segment, which includes brands like Wrangler, Lee Jeans, Chic and Rustlers.
Cramer told investors they need to really drill down and figure out what happened to VF Corp. this quarter.
As for the selloff, he said this might be one of the rare buying opportunities for investors to nab shares, since earnings-induced selloffs don't happen very often with this stock.
Cramer called CEO Eric Wiseman "one of my bankable 21," which is a list of his top CEOs highlighted in his book, Get Rich Carefully.
-- Written by Bret Kenwell in Petoskey, Mich.