Amid rising prices and a looming recession, Costco has suggested one bargain price will not change.
During Costco’s fourth-quarter earnings call last week, Chief Financial Officer Richard Galanti suggested that its famous hot dog and soda combo will always be $1.50.
In light of the recent worse-than-expected inflation report, Galanti was asked whether narrowing business margins would cause Costco to raise food court prices, specifically the hot dog combo, which has cost $1.50 since 1985.
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“Lightning just struck me,” Galanti joked. “There are some businesses that are doing well with margin like gas business on a smaller way — in the travel business, those things help us be more aggressive in other areas, or as you mentioned, hold the price on the hot dog and the soda a little longer, forever.”
Costco did increase other food court items recently, including the chicken bake, which rose from $2.99 to $3.99 in July.
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The warehouse retailer reported fourth-quarter earnings that topped analyst expectations, according to CNBC. As a result, Galanti said Costco would not be increasing membership fees.
