Costco Wholesale Corporation (COST) “Had Good Numbers,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Warned About Samsung’s Phones. Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks Jim Cramer recently discussed.

Costco Wholesale Corporation (NASDAQ:COST) is one of the largest retailers in the US. The firm’s shares have gained a modest 8.9% year-to-date on the back of a 6.6% gain since late July. Costco Wholesale Corporation (NASDAQ:COST)’s stock is yet to recover from its 15% drop in March, which came after the firm warned that a third of its sales were from China and exposed it to tariff-induced headwinds. In his previous remarks about Costco Wholesale Corporation (NASDAQ:COST), Cramer has called the firm a great long-term play. Here are his recent thoughts about the firm:

“But look, Costco had good numbers. Now Costco you could say well wait a second, this is too early to see, but then you get some read through for the tariffs. People are still spending like mad. I think the notion of the consumer being hurt is just not playing, just not playing. I’ve not seen it.”

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Earlier, Cramer discussed Costco Wholesale Corporation (NASDAQ:COST)’s valuation:

“Well, you know what, I am glad you called me on Costco. I was just, I was actually kind of mulling over this one with Jeff Marks, my colleague on the club, and I have to tell you, I am sick and tired of the stock going down. People feel 51 times earnings is too expensive. I think that’s wrong. I think they’re doing everything right. Every check indicates to me that it’s time to start buying some if you don’t have any, and if you have some, perhaps you should buy some more.”

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Disclosure: None. This article is originally published at Insider Monkey.