Cramer’s Morning Take: Costco 12/4/25

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Jim Cramer (0:47)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting.

David Faber (0:54)

Let's talk Costco now. Monthly sales came out for November last night. Up 6.9% company-wide, 6.4% excluding gas and FX in the US. They were up 6%, 5.8% on that core basis. Maybe a slight deceleration from October, and that's why.

Jim Cramer (1:13)

I didn't want to see that. I didn't want to see that.

David Faber (1:15)

And that's why the stock is down today.

Jim Cramer (1:17)

But it still sells at too high a multiple to be able to tell you, I'm pounding the table on Costco. So I can't do that. I will say that there are periods of underperformance in Costco. But if you look at the longer term, it's one of the greatest performers of all time. I did a lot of calculations for the retirement of Richard Glanty, the CFO. And it's in a leak group of really the best 10 stocks. So I can't say, you know what, we got to sell it here. If anything, there will come a time where I'll just say, all right, it's just too cheap, but we're not there yet.

David Faber (1:46)

And they'll report earnings next Thursday after the bell. So we'll already know the sales numbers because they do report these on a monthly basis.

Jim Cramer (1:53)

Exactly.

David Faber (1:53)

But we'll get a little bit more info on gross margins and earnings and things like that. And some of the initiatives that they're working on, extending store hours, the shop and go.

Jim Cramer (2:04)

Fantastic.

David Faber (2:05)

What's working there.

Jim Cramer (2:08)

Start your day with my outlook on the daily market every morning at 10, 20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CNBC Investing Club member.

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