Cramer’s Morning Take: Costco 1/9/26 - Squawk on the Street

Summary3 min read

Squawk on the Street: Cramer’s Morning Take—Costco (1/9/26)

Podcast: Squawk on the Street
Host(s): CNBC (Jim Cramer)
Date: January 9, 2026
Episode: Cramer’s Morning Take: Costco

Episode Overview

In this concise morning segment from “Squawk on the Street,” Jim Cramer shares his outlook on the market, with a particular focus on Costco’s recent movements and performance. The episode, part of the CNBC Investing Club morning meeting, discusses the importance of membership renewals, online signups, and investor expectations around Supreme Court tariff decisions that affected market sentiment. Cramer offers candid views on why Costco is currently his favorite stock pick and what factors might act as catalysts for further growth.

Key Discussion Points & Insights

1. Supreme Court Decision Impacting Market Sentiment

Timestamps: [00:52]–[01:07]
- Cramer highlights the market’s anticipation for a Supreme Court decision on tariffs, which was expected to influence several stocks, including Nike and Costco.
- Both companies had gains but saw pullbacks after it became clear the decision would not come that day.
“I think people were looking yesterday for this potential Supreme Court decision on tariffs...and we saw a little bit of a pullback in both stocks shortly after 10 when we learned we're not going to learn right and see it today.”
— Jim Cramer [00:52]

2. Costco’s Member-Focused Strategy

Timestamps: [01:07]–[01:33]
- Cramer emphasizes Costco’s commitment to returning money to its members, believing this move will further boost membership and support future growth.
- He critiques the company’s story-telling to investors, suggesting room for improvement.
“They want to return the money to the members and that will boost membership when people see them doing something like that. And this again is become my favorite name for now.”
— Jim Cramer [01:08]

3. Membership Renewal as a Growth Indicator

Timestamps: [01:23]–[01:33]
- Cramer notes some softness in membership “re-ups”—renewals—but maintains a bullish stance, citing the potential for a sharp upside if renewal rates pick up.
- Draws parallels to previous favorite picks, framing Costco as a “coiled spring.”
“I think the re ups renewals. Yeah, yeah, renewal rate. And I just think that this is... a coiled spring because once it gets one number right, that one new number people going to go crazy.”
— Jim Cramer [01:29]

4. Strength in Online Membership and December Sales

Timestamps: [01:52]–[02:00]
- Growth in online signups is outpacing in-store membership, and December’s monthly sales were particularly strong.
“And it's the online signups. It's not really people that go into the stores. It's people that are online and shop and they had really strong December monthly sales.”
— Jim Cramer [01:52]

5. Investor Communication and Narrative

Timestamps: [02:00]–[02:10]
- Cramer laments the lack of compelling storytelling from Costco management but believes in the underlying numbers.
“They also said they don't tell better stories. We don't have Richard Clanton tell the story he would tell, good or bad. I just think the narrative is told poorly right now.”
— Jim Cramer [02:00]

Notable Quotes & Moments

On the Impact of News Delays:
“We saw a little bit of a pullback in both stocks shortly after 10 when we learned we're not going to learn right and see it today.” — Jim Cramer [00:59]
On Costco’s Upside Potential:
“It is a coiled spring because once it gets one number right, that one new number people going to go crazy.” — Jim Cramer [01:33]
On Online Membership Growth:
“It's not really people that go into the stores. It's people that are online and shop and they had really strong December monthly sales.” — Jim Cramer [01:54]

Timestamps for Key Segments

00:45 — Cramer starts his morning take.
00:52 — Market expectations of the Supreme Court tariff decision & market pullbacks.
01:07 — Costco’s member returns and overall thesis.
01:23 — Discussion on renewal rates; Costco as a "coiled spring."
01:52 — Strong online signups and December sales.
02:00 — Critique of Costco’s management narrative.

Summary Takeaway

Jim Cramer’s morning take is enthusiastic on Costco’s prospects, highlighting the company’s focus on returning value to members, strong online growth, and resilient sales. While membership renewal rates are somewhat soft, Cramer sees upside potential if the company delivers just one strong metric. He encourages investors to keep an eye on how storytelling and communication from Costco management could improve market sentiment further.

(Ads and disclaimers have been skipped in this summary.)

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Transcript14 lines

[00:00]
Keith Lansford
This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and subscribe@schwab.com Market Update podcast or find Schwab Market Update wherever you get your podcasts.
[00:29]
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[00:46]
Jim Cramer
Hey, it's Kramer and this is my morning take on the market from today's CNBC Investing Club morning meeting.
[00:52]
I think people were looking yesterday for this potential Supreme Court decision on tariffs, which Nike as well was a big gainer yesterday and we saw a little bit of a pullback in both stocks shortly after 10 when we learned we're not going to learn right and see it today.
[01:07]
Look, I'm a believer by the way. Let's just talk. They want to return the money to the to the members and that will boost membership when people see them doing something like that. And this again is become my favorite name for now. I think this is a company where this was obviously the re ups were not as strong. I think the re ups renewals. Yeah, yeah, renewal.
[01:32]
Yeah, the renewal rate.
[01:33]
And I just think that this is, you know, obviously say that Boeing might be my favorite when it was 180. Yeah, I just think that this capital one at 150. That's what this is. It is a coiled spring because once it gets one number right, that one new number people going to go crazy.
[01:53]
And it's the online signups. It's not really people that go into the stores. It's people that are online and shop and they had really strong December monthly sales.
[02:01]
They also said they don't tell better stories. We don't have Richard Clanton tell the story he would tell, good or bad. I just think the narrative is told poorly right now. Start your day with my outlook on the market. Every morning visit cbc.com/morning take to become a CNBC Investing Club member at a special rate today.
[02:26]
Capella University Announcer
All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Kramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by Kramer on television radio, Internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com investingclubdisclaimer Is it.
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