September 29, 2023

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Costco CFO says $1.50 for a hot dog and soda ‘forever’

Costco CFO says $1.50 for a hot dog and soda 'forever'

Costco’s chief financial officer has suggested that the wholesaler keep the popular hot dog and soda group at $1.50 “forever.”

During the company’s working period Fourth Quarter Earnings Call Last week, Chief Financial Officer Richard Galante was asked if the retailer would consider raising the price of all its frank beef as it looks to deal with tighter margins.

Joking around saying “lightning bolt” after he got the question — referring to the company’s $1.50 combo-legendary status — Galante said it would always be other parts of the business that kept the price of a hot dog in the same place it had been a year ago. 1985.

“Some companies that do really well with margin … these things help us be more aggressive in other areas, or, as I mentioned, hold the price of hot dogs and soda a little bit longer – forever,” he said.

There are other elements to the Costco food court The price has recently increasedincluding the popular chicken bun, which rose from $2.99 ​​to $3.99 in July.

The price of a 20-ounce soft drink also increased from 59 cents to 69 cents during the summer.

Galante’s comments echoed the words of Costco CEO Craig Jelinek, who was asked by CNBC’s “Squawk on the Street” in July if he thought the company would raise the price of its food court item.

he said no”.

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