Phillips-Van Heusen CEO Manny Chirico on Thursday said he "couldn't feel better about how things are moving" on a micro basis. The only problem, he continued, is that there is "just a lot of noise, a lot of macro issues out there."
"It causes even a CEO or a management team to be a little bit more cautious about how we're making investments, how aggressively we go after things," Chirico said. "But I think you have to take a step back and really look at from a strategic point of view, you're developing new markets, you're growing in existing markets, you're making those investments and getting paid for them. We're going to continue to do that."
To handle the gloom, Chirico said he tries to manage through it in a prudent way. There are stresses in the economy, he said, but many of his brands are seeing strength right now. Tommy Hilfiger and Calvin Klein, for example, are doing quite well. Chirico said the high-end continues to thrive, even in this market.
Cramer remains bullish on Phillips-Van Heusen and plays on the high-end consumer in general.
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