Some might think a company’s management has to choose between its customers and shareholders, but Costco CEO and President James Sinegal doesn’t see it that way. He told Cramer Thursday that focusing on one inevitably benefits the other.
Sinegal and his team have been able to maintain profit margins while at the same time keep prices low for its customers. That’s no easy task for a retailer, recession or not. But the strategy keeps shoppers happy, customer traffic growing and those shareholders excited that business is booming.
“Whatever we do for the consumer is going to come to the shareholder eventually,” Sinegal said.
Cramer and the CEO discussed the state of that consumer today, as well the addition of super-premium brands to the store, the success of Costco’s gas business and more. Check out the video for the whole story.
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