Costco Wholesale Corporation (COST) Is An Inflation Fighter, Says Jim Cramer

We recently published 12 Stocks Jim Cramer Discussed As He Said “Pilots Are Too Expensive”. Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks Jim Cramer recently discussed.

Along with Walmart, Costco Wholesale Corporation is another top Jim Cramer retail stock. Like Walmart, the firm’s scale and the ability to keep prices low have made Cramer a believer. Costco Wholesale Corporation’s shares have gained a modest 2.6% year-to-date as they are still down by 11% from the pre-March selloff, which saw the stock gutted by 15%. The stock fell after a mixed earnings report saw it warn about the impact of inflation on consumer spending. Here’s what Cramer said about Costco Wholesale Corporation:

“And I think Walmart is, Walmart and Costco are the two great inflation fighters now.

“Well CPI is all these different element of food. And you know, I think it matters where you shop. If you shop at Walmart and Costco. Then you know that things didn’t go up.”

Copyright: tonybaggett / 123RF Stock Photo

Previously, Cramer asserted that Costco Wholesale Corporation was not raising prices as reports suggested that Walmart was increasing them:

“[On a piece saying WMT is increasing prices by as much as 50%] Well look you gotta, you gotta, I’ve been spending a lot of time at Costco, Costco’s not saying that. I mean I think that’s very, now we do have that big beef problem.”

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This article is originally published at Insider Monkey.