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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV