Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.
Put me in, Coach!
Is it time to take a victory lap in Coach (COH) , the luxury retailer that's up more than 32% since Cramer first recommended it a year ago? It's clear the company is getting its groove back, but is there still more room to run?
Cramer said he's a big fan of Coach's new CEO, Victor Luis, but retail turnarounds take time, and this one has been in the works since Luis took the helm in January 2014.
Luis was quick to begin fixing Coach's woes, killing off the company's more affordable items, closing underperforming stores and remodeling those that were working. With the brand's aspirational touch restored, shares of Coach bottomed in September 2015 and numbers began improving in early 2016.
Then the company acquired Stuart Weitzman, a luxury shoe maker, and then Kate Spade (KATE) last May for $2.4 billion. Cramer said it's clear now that Coach aims to be a house of luxury brands, a strategy that is working.
Even trading at 19 times earnings, Cramer said Coach is a buy given its rising same-store sales and its growth opportunities with the combined brands.
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