"That's whydidn't want it, " the owner of the fast-growing Vans and North Face brands that spun off the slow-growing jeans company earlier this year, he said. "If you're an investor who wants income, this one's pretty enticing."
To buy the stock, investors must believe that management can stabilize the company and continue to reward stockholders, said Cramer, who thinks the dividend will serve as a floor for the equity. Although they are both face challenges, he thinks there is good reason to take a bet on Wrangler and Lee, which rank among the top American jean companies.
"It may take them a while to turn things around, but with that 7.2% yield ... they're paying you to wait," he said., basically that they're going to have a very good year in 2020. "Wall Street finally got what it was ordering from the Federal Reserve, but somehow investors were still disappointed, Cramer said.
The central bank cut the benchmark interest rate by a quarter point to the 2% to 2.25% range, but traders who wanted Chairman Jerome Powell to signal future cuts were left unsatisfied. The
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Source: CNBC - 🏆 12. / 72 Read more »
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