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NEW YORK ( TheStreet) -- It's time to get a little defensive, raise a little cash and have some patience, Jim Cramer told his "Mad Money" TV show viewers Wednesday after yet another volatile day on Wall Street.
Cramer reminded viewers that no one's ever made a dime by panicking, but with the markets getting shaky it's certainly time to change gears.
Cramer admitted he's not crazy about the markets right now, and is even raising extra cash at his charitable trust,
Executive Decision: Manny ChiracoIn the "Executive Decision" segment, Cramer sat down with Manny Chiraco, chairman and CEO of PVH Corp (PVH), which delivered a monster earnings beat that sent shares up 6.6% in after-hours trading. Chiraco said PVH saw strength across the board, especially in the company's Calvin Klein and Tommy Hilfiger brands. He said the weather in the U.S. put a damper on April sales, but those sales returned in spades in May. When asked about sluggish sales in Europe, Chiraco noted that while Spain and Italy remain weak for PVH, other countries in Europe are fairing better and PVH saw stronger May sales across Europe as well. Even in emerging markets like Brazil and China, Chiraco said, PVH was able to deliver solid growth numbers.
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