Cosco, Target, Walmar, Target and Walmar - That's a Bold Call.

Cosco has been defensive for a few weeks after we got the inventory and the margin guidance from target and n walmart, and certainly cosco suffered along with them. And in fact, we got june copsals, i think they were up 13%. I think that was about 250 base points better than where the street was. If you look at the margin, it explains why cosco trades at a premium, so best in class. A hard for me to chase this one when i think target and walmark actually have a lot more value, though.