Costco posted second quarter profit on Thursday that topped analysts’ estimates. The third-largest U.S. retailer said its profit for the quarter rose to $598 million from $463 million a year ago. TheStreet’s Jim Cramer says a lot of people were betting against Costco and made the wrong bet. He says there’s so much to like about the wholesale retailer but of course Costco is one of those stocks that trades off of data points so investors are going to have to wait until the next data point and so there’s no reason to chase it. Cramer does point out, however, that the retailer does have the right formula as evidenced by their 8% growth in same-store sales for the quarter. Shares of Costco are up about 26 percent over the past year.
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