Turning to some of the company's product lines, Chiraco said he's not happy with the quality of some Calvin Klein items, particularly jeans, and is working to increase both quality and design. He said that just four months into its acquisition of Warnaco, PVH still has a lot of work to do.
When asked about the company's store-within-a-store concept at JC Penney (JCP), Chiraco said he's still happy with the arrangement and looks forward to working more closely with that company's new CEO. "I still believe in JC Penney," Chiraco said.
Cramer said he's still a believer in PVH, a company that continues to deliver on all of its promises.
Slam Dunk, Part 2
As the National Basketball Association finals continue, so does Cramer, dishing up another Miami versus San Antonio match up.This time, the financial world: Texas' Cullen/Frost Bankers (CFR - Get Report) against the Miami-based REIT of EquityOne (EQY - Get Report). Cramer said Cullen/Frost has been an excellent regional bank that specializes in commercial and consumer loans at its 110 banking centers. The company has a 3.1% yield and a solid track record of low costs and even lower loan losses. Cullen/Frost is in Texas, where the regional economy is booming and unemployment sits a full point below the national average. Meanwhile, EquityOne, which had been a solid commercial REIT in the hottest of urban areas in the south, has seen its shares crushed by 11% as the market has begun rotating out of high-yielding REITs and back into bonds. Cramer reminded viewers that even a 3.7% dividend yield cannot overcome a 11% decline in principal. So while 30 days ago EquityOne was a solid performer, in today's markets it is clearly not. He said unlike Cullen/Frost, which benefits from higher interest rates, EquityOne has been hurt badly by them. Cullen/Frost, he concluded, is in a business that works going forward, while EquityOne's business has worked in the past.