Jim Cramer Labels Tapestry a Retail Winner as Shares Surge 84%
Jim Cramer called Tapestry a “terrific winner” after the parent of Coach and Kate Spade reported a blowout quarter and saw shares climb 84% over the past year. He praised store execution and price points while recommending investors buy an initial position and add on any pullbacks.
1. Cramer Endorsement
Jim Cramer highlighted Tapestry as one of the market’s “terrific winners,” noting confidence inspired by comments from CEO Joanne Crevoiserat. He emphasized that witnessing well-organized stores with strong price points and engaged sales teams signals robust retail execution.
2. Stock Performance and Demand
Tapestry’s stock is up 84% over the past 12 months following a blowout quarterly report posted a month ago. Cramer also referenced research showing high school students’ growing preference for Coach handbags as an indicator of sustained consumer demand.
3. Investor Guidance
Cramer advised investors to “buy, buy, buy,” suggesting an initial purchase of half a position and adding on any subsequent dips. He stressed that while homework is necessary, Tapestry presents a compelling entry point for long-term retail exposure.