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No Need to Worry About Costco's 'Transition Quarter', Says Cramer

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A day after Costco (COST - Get Report) reported weak April sales figures, TheStreet's Jim Cramer points out that the big-box retailer is undergoing a transition this quarter.

"We put out a note saying, listen, this quarter is a transition quarter because they've moving from an American Express card that doesn't have really good rewards to a Visa card that has big rewards and it's freezing the company's sales," said Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio, which owns Costco.

On Wednesday, Costco reported flat same-stores sales growth in April -- or about 3%, excluding the negative impacts from falling gas prices and foreign...


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