CEO Interview Costco Wholesale
Cramer welcomed Jim Sinegal, President and CEO, of Costco Wholesale (COST) to the “Mad Money” TV show Monday. Cramer has been a big advocate for the stock calling it his favorite retail pick recently. Sinegal explained that Costco pays its employees a high wage and in return those employees produce great results. He feels critics who complain about that company’s high labor costs just don’t understand Costco’s philosophy on paying employees a fair wage for quality performance. Sinegal went on to say that he sees plenty of growth for Costco in overseas markets and domestically. “We could double the size of our company over the next 10 years,” Sinegal said. Cramer thinks COST is the best retailer in America and the stock is going higher.
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