Costco: A top Costco executive recently provided an update on the future of the beloved $1.50 hot dog and soda combo that has been a staple at the wholesale giant since 1985.
For over three decades, Richard Galanti has served as the company’s chief financial officer, while the iconic hot dog deal remained unchanged in price. However, last week marked a significant shift as Galanti retired after 40 years of dedicated service.
In an interview with Bloomberg, Galanti addressed the question looming over the fate of the famous combo in his absence. When asked if any changes were imminent for the iconic deal, Galanti responded succinctly, stating, “It’s probably safe for a while.”
This response contrasts with his previous humor-laced comments during a 2022 earnings call when he quipped about being struck by lightning after being asked about potential price increases for the hot dog.
Galanti emphasized Costco’s commitment to maintaining the price of the quarter-pound all-beef hot dog and soda combo, citing the company’s ability to leverage other successful aspects of its business to support this commitment.
Despite opportunities to maximize profits, Galanti highlighted Costco’s preference for simplicity and stability. He expressed contentment with the company’s financial position and emphasized a cautious approach, stating, “We generate more money than we need every year. I’m not trying to look for the last penny by doing something a little more risky.”
In essence, Costco remains dedicated to its long-standing tradition of offering quality products at affordable prices, with the $1.50 hot dog and soda combo continuing to symbolize this commitment to its customers.
