Given the strength in other areas of the company, such as its recent acquisition of the Speedo and Warner brands, Cramer said that PVH remains one of his favorite stocks in the group, even as it hits a rough patch with the consumer.
Executive Decision: Russell Goldsmith
In his final "Executive Decision" segment, Cramer sat down with Russell Goldsmith, president and CEO of City National Bank (CYN - Get Report), the West Coast regional bank that's seen its shares up 36% since Cramer last checked in this past December.Goldsmith painted a positive picture of the banking industry, saying that loan demand at City is up and the bank is attracting new clients to its already robust base. Even with interest rates on the rise, Goldsmith said customers are stepping up and buying homes before rates head even higher. Refinancing activity has slowed a bit, he admitted, but rates still remain at incredibly low levels historically. Goldsmith also touted his bank's expansion into wealth management and venture investing as two big growth areas. He said City is now investing in early- and mid-stage technology companies in a bigger way. When asked about the effects of rising interest rates and a reduction of Fed stimulus, Goldsmith said he views it as a good sign that the economy is strong enough not to need such aggressive measures. Cramer said City has been a big winner for shareholders and he remains bullish on the bank and its prospects.