NEW YORK (TheStreet) -- TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, discussed Deckers Outdoor (DECK) - Get Free Report after the outdoor clothing company saw a nearly 10% jump in sales of its UGG product line. Despite a remarkable quarter, Cramer noted the stock fell in the pre-market. The stock has continued to fall, and was recently down 16%.
The guidance from CEO Angel Martinez was "so terrible, so negative," that the analysts are either jumping ship or revising price targets down, Cramer said.
But UGGs did have a great quarter, Cramer pointed out. Sales of the brand were up nearly 10%. "But Martinez threw so much cold water on the forward [guidance] that people are scratching their heads and selling."
- Written by Anthony Buccino in New York.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.