Jim Cramer on Levi: “It’s Been a Standout Among the Otherwise Challenged Apparel Stocks”

Levi Strauss & Co. (NYSE:LEVI) was among the stocks Jim Cramer discussed during Mad Money, as he called the growing wave of stock offerings and debt issuance a threat to the bull market. Cramer highlighted the company’s latest earnings report, as he commented:

After the close… Levi Strauss & Company reported higher-than-expected revenue and a 4-cent earnings beat off a 24-cent basis. The denim kingpin put up excellent numbers around the world, sole exception maybe Europe… Asia had 12% organic growth. Wow. America’s up 7%. Even better, management raised their full-year forecast pretty substantially. Also boosted the dividend by 14%. Of course, this comes on the heels of a pretty strong run. Going into the quarter, Levi’s was up nearly 18% year to date. It’s been a standout among the otherwise challenged apparel stocks. Despite all the hand-wringing about the consumer, they put up excellent numbers.

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Levi Strauss & Co. (NYSE:LEVI) offers apparel and footwear for all ages under brands like Levi’s, Denizen, and Beyond Yoga. During the April 21 episode, a caller mentioned their intention to get out of NKE and get into LEVI. The Mad Money host replied:

Alright, I like Levi Strauss at $23, $24. Now, I’ve liked it. It’s been right. And I’ve gotta tell you, I think Michelle Gass is doing a good job. I’d buy the stock.

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