There aren’t many places where you can get a hotdog and a drink for just $1.50. However, Costco has been hailed for this bargain combo and will make it accessible to customers “forever.”
During last week’s quarterly earnings call, Chief Financial Officer Richard Galanti shared that the company never plans to increase the price of the famed combo. The $1.50 hotdog and soda deal has been around since 1985. It has become a staple in Costco stores and is perfect for consumers who may be strapped for cash during their lunch hour.
“Some businesses that are doing well with margin…those things help us be more aggressive in other areas,” Galanti explained.
Despite worldwide inflation, especially on food, Costco President and CEO W. Craig Jelinek refuse to increase the cost of this bestseller. He even joked that the store’s co-founder Jim Sinegal threatened to kill him if he ever went up on the price of the wildly popular combo. While this menu item may be staying the same, other Costo foods have sadly been forced to increase in price. For instance, the chicken bake increased from $2.99 to $3.99 in July. A 20-ounce soda also spiked from 59 cents to 69 cents. The Costco membership price is also expected to increase soon.
Customers of nearly any restaurant and grocery store have noticed a drastic increase in food. Global supply chain issues, the war in Ukraine, and staff shortages have all contributed to the rising costs of meals.