Costco has been “on a tear,” Cramer said during Thursday’s Mad Money.
While Cramer had said on Aug. 25 that he preferred BJ’s Wholesale, Costco since then has jumped about 20% compared to BJ’s 12%. And COST is flirting with its 52-week high.
This shouldn’t come as too big a surprise, given Costco’s numbers lately. The company posted a better-than-expected quarter in early October and then announced 5% same-store sales growth for the month, a bit more than Wall Street’s expected 4.8%. The overseas business – 153 a total 562 warehouses operate outside the US – played a big part in the beat. Best of all, the average transaction total grew for the first time since September 2008, which is when Lehman Brothers’ collapse helped to set off the recession.
Costco on Thursday opened its first Manhattan location. In addition to sitting down with Cramer, CEO and President Jim Sinegal gave the Mad Money host a tour. They discussed the new store, beating Nordstrom and Best Buy’s prices, what's exciting about shopping at Costco and more. Watch the video for the full interview.
PLUS: The full walk-and-talk didn’t make it to air – there wasn’t enough time in the show! Watch the rest of Cramer’s one-on-one with Sinegal right here. (Keep an eye out for the $255,000 ring, which is sold right along side vegan falafel and reams of cheap toilet paper.)
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