Costco Wholesale Corporation (COST)

They had a terrific quarter, but fell 6% anyway. Is -13% from all-time high of a few weeks ago. But it usually sells off on good quarters, but bounces back, so you must buy it into weakness. Almost always. They reported a revenue beat, but earnings miss. Same-store sales were +6.8%, beating the street. Operating margin barely missed as did EPS. Costco shoppers are still spending, but getting picky about value. Non-food same-store sales growth was around 15%, good. Only one-sixth of their goods come from China, Canada and Mexico, so they are fairly insulated from tariffs; and they can replaced those tariffed items with non-tariffed ones. Shares are hit because it's a high-PE stock and the market is down. Shares now are a buying opportunity.

It reported excellent numbers last night, but shares still got hammered. Wait till Tuesday when all the sellers will probably be done. It's a major holding of his.

High valuation, but paying a premium for a name that has scale and not many competitors. 

Costco and Walmart offer terrific private label products that appeal to consumer starved for value after products were hiked during Covid. True, private label brands aren't growing much, but they keep all prices--including consumer brands--down. The brands are one reason why  Costco and Walmart keep hitting new highs.

World's third-largest retailer. Set apart by narrow product offering, lean supply chain, and good procurement clout. High traffic, repeat business, very high retention at 93%. Very strong same-store sales growth, still not a saturated concept. Great sales growth, earnings growth, compound total return. Despite the run, any day that ends in "y" is a good day to buy. Yield is 0.5%.

Trades at a reasonable valuation. Such a broad company. Their ad business continues to grow and they will remain competitive in data centres (they and Google have the best infrastructure in data centres). Prefers Amazon for its valuation and diversification.

Is down 7%, but buy it when it does down. Investors worry over its 50x PE, and their special dividend is behind them, so what will move this stock ahead? Well, it's the #1 retailer in the world.

The biggest problem is that shares have rallied a lot for a long time and the valuation has climbed too high. Don't buy now, especially considering the weak CAD. You could even take some profits.

(Note the short timeframe.)
Chosen on the theme of defensive retailers. Retailers have been mixed since then, but this one's done well. Otherwise, the sector's been steady and showing growth throughout the year.

Well, that's about his position in this name, which he's been holding since ~$300. Now approaching $1000. He trims, but in a minor way. You'd want to wait for a position to top off.

Excellent company that continues to dominate. Would recommend holding - no reason to sell. Share price not cheap, but company has earned high valuation. Would wait before investing - but if investing - would recommend holding for the long term. 

For consumer staples, he likes to stick close to him. A name that's done very well for client portfolios. Not many names are similar, so it can price accordingly; significant leverage in negotiations.

It's wrong to think its imported foods will get hit by Trump tariffs. Most of its business is driven by membership fees, and they offer low prices to customers. If this opens weak tomorrow, buy.

He doesn't think a recession is around the corner, so he'd favour big-growth COST for continued mid-cycle economic growth in consumer staples.

Has done well. Happy to hold.