Watch CNBC's full interview with Costco CEO Craig Jelinek

Costco CEO Craig Jelinek joins CNBC's 'Squawk on the Street' to weigh in on the state of the U.S. consumer and how the company is navigating inventory issues hitting the industry. "Overall, I think the consumer is not doing bad," Jelinek tells CNBC. "My view at the moment is that things aren't so bad."