Jim Cramer's Top Takeaways: PVH, Target, Walgreens Boots Alliance

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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.

PVH Chart
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PVH (PVH) : In an exclusive interview, Cramer checked in with Manny Chirico, chairman and CEO of apparel giant PVH, which released strong earnings with raised guidance and a stock buyback program.

Chirico was more upbeat than he's been in recent months, saying his company's investments in Calvin Klein are just now starting to pay off. He was bullish on PVH's prospects in Europe, which is starting to see both sales increases and a boost in gross margins.

Other bright spots for Chirico include denim, a category that is also starting to see sales improvements, with Calvin Klein denim particularly strong. Chirico was also upbeat about sales at both Macy's (M) and Kohl's (KSS) here in the U.S.

TGT Chart
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Target (TGT) : For his second interview, Cramer sat down with Brian Cornell, chairman and CEO at Target, a stock that's up 36% since Cornell took the helm just 10 months ago. Today Target posted a 7-cents-a-share earnings beat on a 2.3% increase in same-store sales.

Cornell said that Target's focus is once again back on style, strengthening its core areas of apparel, home, beauty, baby and kids. Target is bringing excitement and innovation back to these categories with more collaborations with award-winning designers.

Target is also hard at work understanding core customers and meeting today's key trends. Today's consumer is digital savvy, Cornell noted, which is why Target continues to invest in online sales, which account for 38% of the company's business, as well as omni-channel operations.

Target is following the natural and organic food trend, adding more healthily items with cleaner labels, while still carrying the old favorites. Target hasn't forgotten college students either, and is opening Target Express locations next to colleges to help cater to that segment.

WBA Chart
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Walgreens Boots Alliance (WBA) : With the world's economy slowing, investors need to be picking stocks that work in a slowing environment. Many investors may think of Walgreens as just a drugstore chain, but after its acquisition of Boots Alliance last year the company is now a titan of prescription drug buying, one that can easily negotiate lower prices from drugmakers.

Cramer expects Walgreens to have many more strong quarters to come because the company is accelerating its same-store sales and has lots of room to improve its profitability. Also, don't forget about the possibility of another merger, Cramer noted -- Walgreens already has a 5% stake in AmerisourceBergen (ABC) .

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 a position in TGT and WBA.

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