Jim Cramer: Costco Is All About Visa Switch
Costco is set to take off now that it has switched to Visa as its primary credit card provider, says Jim Cramer.
Costco (COST) - Get Report is set to take off now that it has switched to Visa (V) - Get Report as its primary credit card provider, says TheStreet's Jim Cramer. The warehouse giant reported Wednesday evening that earnings rose six percent from the prior year to $1.24 a share for the third fiscal quarter ended May 8. Wall Street had anticipated earnings of $1.22 a share. Total revenue rose 2.7 percent year over year to $26.8 billion, narrowly missing forecasts for $27.1 billion. Excluding the impact of gas price deflation and the strong U.S. dollar, Costco's third-quarter same-store sales rose three percent.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
