On CNBC’s Mad Money, Cramer enthusiastically praised Phillips Van Heusen CEO Emmanuel Chirico on an excellent quarter. The CEO, who has frequently been a guest on the program, discussed the company’s turnaround after a few quarters of sluggishness. PVH reported a 9 cent earnings beat, and for the first time in two quarters, management did not cut guidance. Calvin Klein underwear was a strong segment, and the Calvin Klein jeans, which had long been a drag on the company, actually had robust sales. Europe has been a headwind for the company, and Chirico said he is “keeping an eye” on the Continent, because of its volatility, but nonetheless, the Tommy Hilfiger brand is selling well in Europe. Raw costs are stabilizing, and Chirico expressed hope on the second half of the year, with back to school sales looking promising and a positive holiday season expected. Also helping PVH are improvements in key retailers, J.C. Penney and Kohl’s.
Cramer said, “PVH is back. Maybe it never went away. It will be the star of Thursday’s session.”
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