Jim Cramer Focused On These 9 Stocks Recently

6. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holders: 57

A caller, while noting Tapestry, Inc. (NYSE:TPR) stock’s recent decline, asked if they should hold or sell it. Cramer replied:

“Okay… I’m gonna be tough on this one. My favorite retailer is Ralph Lauren and that stock collapsed today. Collapsed. So I don’t think Tapestry or PVH for that matter can possibly be better than Ralph Lauren. So all I can tell you is that in this market or in this tape as we say, Tapestry is going lower. I hate to always tell people that. I don’t like people to sell, but I gotta, you know, look, this is not buy and hold here. It’s buy and homework.”

Tapestry (NYSE:TPR) is a luxury goods company that provides a variety of lifestyle products, such as handbags, accessories, footwear, fragrances, jewelry, home goods, and clothing. Appearing on Squawk on the Street on March 13, Cramer remarked:

“Here’s an example of the kind of thing that I see that I don’t like, Ralph Lauren had an amazing quarter. Just fantastic, Patrice Louvet. Stock goes down almost everyday but nothing’s really happened.

… And Tapestry today. . .that’s just zeitgeist. That’s just people saying well look I. . .we’re pulling back, I’m going to get away from these uh expensive so to speak, apparel companies. And they’re not that expensive. But, it does, it’s worrisome, because no one can come out and say, hey listen, that’s not true. You have a zeitgeist moment that is really affecting everything. It’s a shame. Doesn’t have to be this way.”