NEW YORK (TheStreet) -- "Very few things are as hard as the apparel business," said TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio. That's why Manny Chirico, CEO of PVH Corp. (PVH), is one of his "Bankable 21."
Cramer said Chirico has done a great job at PVH by making the right acquisitions. The Tommy Hilfiger acquisition in 2010 was "brilliant," Cramer said. While the Calvin Klein acquisition in 2008 was good, it has yet to be great -- until now.
He said 2014 would be the year that Chirico successfully brings all of the Calvin Klein labels under one roof -- the Calvin Klein Brand. He also sees solid performance from PVH's jeans division, which has been a difficult segment.
The company has a successful international and domestic story, Cramer said. He concluded that a successful J.C. Penney's (JCP) turnaround would be very beneficial for PVH.
-- Written by Bret Kenwell in Petoskey, Mich.