As Europe's debt crisis continues to weigh heavily on U.S. stocks, investors might be tempted to play it safe and avoid American companies with European exposure, Jim Cramer said Wednesday on CNBC's "Mad Money." But it is possible to be too cautious, he said.
Investors should not write off PVH, for example. The apparel company is incredibly well-run simply because 27 percent of its sales come from Europe, Cramer noted. Nevertheless, its stock has been pummeled because of the company's European exposure. It has lost 14 points since late March. Even so, Cramer said PVH has a “fantastic long-term record of outperformance” and has given investors a gain of 95 percent since he first recommended it in January 2008.
To find out more about the company’s latest quarter and its prospects, Cramer welcomed Manny Chirico, chairman and CEO of PVH, onto Wednesday’s program. Check out the video to see the full interview.
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