Costco’s $1.50 Hot Dog and Soda Combo Price to Remain Unchanged, Says New CFO
In a recent interview with CNN, Costco’s new Chief Financial Officer, Gary Millerchip, has confirmed that the price of the beloved $1.50 hot dog and soda combo will not be increasing. Millerchip, who took on the role just two months ago, reassured customers that the iconic deal will remain at its current price point, which has been unchanged since 1995.
Former CFO Richard Galanti, who recently retired after 40 years with the company, also echoed Millerchip’s sentiments in a previous interview with Bloomberg. Galanti stated that while Costco could easily make decisions to increase profits, the chain is committed to providing value to its customers. “We generate more money than we need every year,” he said. “I’m not trying to look for the last penny by doing something a little more risky.”
Galanti further explained that Costco’s success in other areas of the business allows them to maintain the $1.50 price tag on the popular menu item. “Some businesses that are doing well with margin … 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,” he said.
The decision to keep the price of the ¼-pound all-beef frank at $1.50 reflects Costco’s commitment to providing value and maintaining customer loyalty. With the assurance from the new CFO, Costco patrons can continue to enjoy the affordable and delicious hot dog and soda combo for years to come.
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