CNBC's Jim Cramer said Tuesday that the company behind Vans, The North Face and Timberland has a promising blueprint to turn around its fortunes. Shares of troubled VF Corp (VFC) sank 9.5%, the morning after management withdrew its fiscal year revenue and profit forecasts. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. While acknowledging the near-term challenges due to a more cost-conscious consumer, Cramer said on "Squawk on the Street" that new CEO Bracken Darrell's plan to overhaul the company should lift the stock down the road. Cramer cited Darrell's long track record in leadership roles at Procter & Gamble (PG) and Logitech (LOGI) as a reason to give him the benefit of the doubt.

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Persons: CNBC's Jim Cramer, Timberland, Jim Cramer's, Cramer, Bracken Darrell's Organizations: Vans, Procter & Gamble, Logitech, TJX Companies, Marshalls Locations: Maxx