Costco is standing pat on its membership fee and some food court prices even in light of rising inflation, according to the company’s fourth-quarter earnings call this week.
The membership fee will continue to be $60 yearly, while consumers can continue to count on the hot dog and soda combo at the food court costing just $1.50.
On the Thursday call, Costco Chief Financial Officer Richard Galanti noted that the company’s prices for gasoline and travel packages help keep the food court prices low, perhaps indefinitely.
“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,” Mr. Galanti said on the call, transcribed by Seeking Alpha.
While the hot dog combo price is staying the same, an increase in the membership fee will be coming at some point in the future.
“If you look at the last three increases, on average, they were five years and seven months apart. If you look at June of ’17, plus five years and seven months, you’re talking roughly January ’23. Now, I’m not suggesting it’s January ’23. I’m just saying it’s not there yet anyway,” Mr. Galanti noted on the call.
• Brad Matthews can be reached at bmatthews@washingtontimes.com.
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