Jim Cramer's Top Takeaways: Ascena, Starbucks, ClubCorp

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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.

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Ascena Retail Group (ASNA): Cramer sat down with David Jaffe, president and CEO of Ascena, to learn more about its acquisition of Ann (ANN) and the overall state of apparel retail.

Jaffe said that by acquiring Ann his company will be able to leverage its infrastructure to produce over $150 million a year in synergies. He said transportation in particular can be streamlined as all their stores, which include Lane Bryant, Maurice's, Catherine's and Justice, can be combined with Ann Taylor's stores and fed from the same distribution centers.

Turning to the issue of the fickle fashion industry, Jaffe explained that spending has been shifting away from apparel for a few years now, migrating to the home and home furnishings, along with technology and experiences like restaurants and theme parks. However, in recent months he's noticed that fashion items, when properly executed, seem to be coming back. This is why Ascena, now with Ann, will be ready when the pendulum swings back to fashion.

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Starbucks (SBUX): Is coffee and music a match made in heaven? Cramer spoke with Howard Schultz, Starbucks' CEO, to learn more about that company's new partnership with the streaming music service Spotify.

Schultz explained that Spotify is the leading company in the streaming music category and is offering a custom experience that will bring the ability to listen to Starbucks playlists outside of Starbucks locations using the Starbucks mobile app.

Additionally, Spotify will be the premier partner in Starbucks' new "stars as currency" program, which will extend Starbucks' highly successful rewards program to other "likeminded" brands.

Schultz did not comment on which companies might be next to join the program, but noted that over the next few months, Starbucks' customers will see rewards appearing in other locations. Stars will become a new revenue stream for Starbucks.

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ClubCorp (MYCC): In a third exclusive interview, Cramer sat down with Eric Affeldt, president and CEO of ClubCorp (MYCC), the country club manager that currently operates over 209 clubs nationwide.

Affeldt said ClubCorp is reinventing country club management by purchasing under-managed clubs and providing capital for needed improvements and professional managements.

Country clubs are a lot more than just golf, Affeldt explained. The company derives about 46% of its revenue from membership dues. ClubCorp's new "ONE" membership program affords members an "optimal network experience" by granting access to any one of 89 participating clubs around the country.

To read a full recap of "Mad Money" on CNBC, click here.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.

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