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If mall-based retail is supposedly dead, no one told Children's Place (PLCE) - Get Children's Place, Inc. Report , the kids' apparel retailer with shares that rocketed up 45% in just the last 10 weeks of 2017 and have tripled since their lows two years ago.

Children's Place operates over 1,000 locations in the U.S. and Canada as well as another 168 overseas. The company is, first and foremost, a turnaround story, Cramer said, thanks to CEO Jane Elfers and activist investors.

The company has closed underperforming locations and added a new inventory system that has allowed it to operate with a precision it previously didn't have. When Children's Place last reported in November, it delivered a 5.1% increased in same-store sales and a top- and bottom-line beat.

More importantly, kids clothing is largely Amazon-proof (AMZN) - Get Amazon.com, Inc. Report , as kids grow so quickly, trying on clothes is almost an imperative.

Shares of Children's Place trade at just 18 times earnings and Cramer said with Elfers at the helm, he expects them to continue heading higher.

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