The company reported a "disappointing quarter," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment after the company missed on both earnings per share and revenue expectations.
Cramer pointed out the stock hit its highs when interest rates were bottoming. While this is a great American company with an attractive 3% yield, he isn't ready to recommend it.
"I can't stick my neck out" and say buy it, Cramer reasoned, as organic growth and revenues were disappointing.
Cramer said VF Corp. (VFC) earnings were also disappointing after it reported a revenue miss and provided guidance that came in below expectations. However, the stock has since rebounded into positive territory. Cramer said results from some of VF's bigger brands were also subpar.
Both are companies that represent the "real economy," dealing firsthand with the consumer. This was not a good showing, Cramer concluded.