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Cramer's conversation with PVH CEO

Monday, 9 Sep 2013 | 6:28 PM ET
Cramer checks on retail with PVH CEO
Monday, 9 Sep 2013 | 6:25 PM ET
PVH CEO Manny Chirico discusses the challenges his company faces in Southern Europe, Ullman's leadership at JC Penney, and his understanding of the consumer right now.

(Click for video linked to a searchable transcript of this Mad Money segment)

*This post was updated on Tuesday September 10th

In the wake of earnings from PVH, Jim Cramer spoke with CEO Manny Chirico.

The Mad Money host often says that PVH has been, traditionally, a good read on 3 things he cares about a lot - the consumer, back to school, and Europe.

Don't miss what Chirico told Cramer in this exclusive conversation. Watch the video above!

Do more homework! Following are PVH results as reported by Reuters.

PVH Corp, which makes Calvin Klein and Tommy Hilfiger clothes, gave a sales and profit forecast for the third quarter that missed Wall Street expectations and characterized the global environment as "challenging".

Shares fell 3.7 percent to $127.25 in after-hours trading.

For the third quarter, PVH projected adjusted earnings of about $2.20 a share and revenue of $2.2 billion, while analysts expected a profit of $2.28 a share on revenue of $2.23 billion, according to Thomson Reuters I/B/E/S.

Image Source | Getty Images

PVH said it "remains cautious" about the remainder of the fiscal year. Last month, many retailers, from Saks Inc to Wal-Mart Stores Inc reported disappointing sales for the second quarter as shoppers pulled back on spending.

In the second-quarter, PVH revenue rose 47 percent to $1.97 billion, led by strong sales of Tommy Hilfiger clothes worldwide, which mitigated slow Calvin Klein sales in Southern Europe. In February, PVH bought Warnaco, which added $507 million to the sales.

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For the quarter, which ended Aug. 4, PVH reported a net loss of $16 million, or 20 cents per share, compared to a profit of $89.9 million, or $1.22 a share a year earlier.

Excluding expenses related to the Warnaco deal, PVH earned $1.39 a share.

Also, "The guidance was a bit downbeat versus what the analysts might have hoped for," Cramer added.

PVH expects per-share adjusted earnings of about $2.20 a share and revenue of $2.2 billion, while analysts polled by Thomson Reuters recently projected a profit of $2.28 a share and revenue of $2.23 billion.

In addition, total gross margin narrowed to 54.4% from 55.6%.

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