Executive Decision: Manny Perez De La Mesa
In a "thinking of summer" edition of his "Executive Decision" segment, Cramer spoke with Manny Perez De La Mesa, president and CEO of Pool Corp (POOL), the swimming pool company that derives 13% of its business from new pools, 29% from refurbishing older ones and the rest from pool maintenance supplies. Shares of Pool are flirting with new highs despite having come off a horrible winter.
Perez De La Mesa said the pool business is still in the early phases of recovery and has a long way to go. He said his company's earnings would be even stronger if you subtracted the negative pull from new store openings and acquisitions.
When asked about his business, Perez De La Mesa said Pool Corp is taking share across the board, even though it competes with everyone from smaller stores to mass merchants. Their advantage lies in the company's people, who knowledgeably staff the 220 locations.Turning to the topic of this year's rough winter, Perez De La Mesa said since most pools are closed during this time, it's not really a factor, although his company's maintenance and repair business remains brisk. Cramer said he wishes this stock would pull back so he could buy in.