New Costco finance exec makes decision on hot dog combo price amid shopper’s inflation fear
Costco shoppers will relish this news.
The wholesale retail store’s beloved $1.50 hot dog combo will remain available at that dirt-cheap price — at least for now, Costco’s new chief financial officer confirmed on Thursday.
CFO Gary Millerchip said he wanted to confirm the $1.50 hot dog price is safe, CNNs Nathaniel Meyersohn reported.
The franks have been a longstanding customer favorite staple at Costco, and the $1.50 hot dog-soda combos price has remained unchanged since 1985 thanks to a pledge made by the grocers founders.
In a 2018 interview, then-CEO Craig Jelinek recalled a conversation in which since-retired CEO Jim Sinegal threatened to kill him if he changed the hot dog combo price.
If you raise the effing hot dog, I will kill you. Figure it out, Sinegal told him.
When former CFO Richard Galanti stepped down in March after decades at the helm, rumors circulated that the price of the hot dog combo might finally catch up with the times.
However, Millerchips comments suggest that the price will remain unchanged for the time being.
Costco also began attempts to crack down on non-members dining at the food court and take advantage of the retailers bargain prices, beginning in April.
Costco, which operates 871 warehouses across the US and Puerto Rico, rakes in around $4 billion-plus per year from the fees associated with its membership cards. Official policy allows anyone with a membership card to bring up to two guests with them on each visit.
