Costco finance exec gets frank: ‘The $1.50 hot dog price is safe’
In a time of rising inflation and cost-of-living concerns, Costco executives have assured customers that the beloved $1.50 hot dog deal at the Costo food court will remain unaffected by any price hikes. Despite the challenges faced by the food industry due to economic pressures, top Costco officials have announced that the iconic hot dog combo will stay at its current price.
Costco’s new chief financial officer, Gary Millerchip, made the announcement following the release of the company’s third-quarter results, which showed a 9.1% increase in net sales. Millerchip emphasized that as inflation stabilizes, Costco members are returning to purchasing more discretionary items, leading to growth in categories such as toys, tyres, lawn and garden, and health and beauty aids.
The $1.50 hot dog combo, which includes a quarter-pound hot dog and a 20oz soda, has remained unchanged in price since 1985, defying the impact of inflation and global events over the years. This unbeatable deal has garnered a cult following among shoppers and has become a staple of the Costco experience.
Former Costco CEO Jim Sinegal once jokingly warned his successor, Craig Jelinek, to never raise the price of the hot dog combo, even if it meant facing losses. To maintain the low price, Costco invested in building their own hot dog manufacturing plant and producing their own Kirkland Signature hot dogs.
Despite the immense popularity of the $1.50 hot dog combo, Costco continues to offer a wide range of products at affordable prices, including rotisserie chickens, electronics, massage chairs, and more. With over 600 warehouses in the US and Puerto Rico, Costco remains committed to providing quality products at unbeatable prices for its customers worldwide.
