Ben Gilbert: belief

Transcript context

…Costco, I think, is pretty uniquely positioned in that they're going to do well (I think) in any economic climate. In a recessionary environment, they're going to do well because they are the lowest priced retailer of goods out there. In a boom environment, I think they're also going to do well because of the nature of their customer base. As more people become affluent, they're going to be more likely to shop at Costco. I think that's exactly right. You can see it in the numbers. They do very well in every economic environment. Whereas Walmart is getting squeezed in both directions, I think. In recessionary times, they probably do well, but not as well as Costco because they don't have the absolute lowest prices. In boom times I think people migrate out of Walmart into shopping on Amazon, shopping at Costco.…

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