While there was lots of water at the company's outlets in the path of Hurricane Sandy, the damage has been minimal and only two of the Tanger's outlets are currently closed. Tanger said that doesn't expect any effect on earnings.
Tanger added that customers love, and even demand, bargains, which is why his company's outlets are in such demand. Tanger tenants typically don't sell items like books or electronics, which can easily be purchased online. He said they instead choose to sell fashion and other items that are better off purchased locally.
Tanger Outlets is a growth company, said Tanger, which is why the company has 10 projects currently under development. It currently has three centers in Canada, and Tanger expects 10 centers in that country over the next five to seven years.
As for the health of Tanger's tenants, he said his company receives sales reports from tenants on a monthly basis and sales have been robust. In the case of Coach (COH), which struggled last quarter, Tanger said that company has a great management team that has already corrected the pricing policies that led to the declines.Cramer continued his recommendation of Tanger Factory Outlets. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts