Costco’s outgoing CFO Richard Galanti on Tuesday provided an update on whether customers may see a change in the price of the warehouse retailer’s $1.50 hot dog and soda combo.
As his decades-long tenure as Costco’s CFO ends Friday, Galanti told Bloomberg that the deal is “probably safe for a while.” Garanti will be replaced by former Kroger CFO Gary Millerchip.
The hot dog and soda combo is a staple at Costco’s food court, and costs $1.50.
The company hasn’t raised the price of its combos in the nearly 40 years it’s been offering them, thanks to a promise from its founders. FOX Business previously reported.
The outgoing CFO had previously faced questions about maintaining the combo’s price.
In September 2022, when inflation was much higher than current levels, Galanti said the margins in the gasoline and travel businesses would be “more aggressive in other areas, or the prices of hot dogs and sodas a little more.” It will help you maintain it for a long time and forever.” ”
Meanwhile, Costco has recently made some changes to its food court food options.
The retailer stopped serving churros. Galanti said during Costco’s second-quarter earnings call that the company has added chocolate chip cookies to replace sweet treats. The price of the cookie is $2.49.
Costco’s food court recently began offering $6.99 turkey sandwiches, Galanti said.
The company said ancillary businesses such as food courts and gas stations encourage Costco members to visit warehouses more often.
At the end of the second quarter, the total number of cardholders increased to 132 million. Costco has 875 warehouses around the world.
