Retiring Costco exec shares update on $1.50 hotdog combo amid inflation concerns
CostcoRetiring Costco CFO, Richard Galanti has offered concerned shoppers an update on the retail company’s $1.50 hotdog combo amid inflation concerns.
American multinational corporation Costco has long been popular with shoppers, offering its members products at a low price that are hard to beat.
A favorite amongst buyers has long been the Costco hotdog and drink combo. Found in the food court for only $1.50, the price has not been upped since its introduction in 1984.
However, inflation concerns have left many worried about the combo’s future and whether or not its price tag will remain the same. Now, retiring Costco CFO Richard Galanti has offered an update on what’s to come.
The 67-year-old has been an executive at Costco for nearly 40 years, becoming the chief financial officer in 1985 — just one year after the public was introduced to Costco’s hot dog combo.
Stepping down on March 15, Galanti’s successor will be Gary Millerchip, the former CFO of Kroger. Despite this major change, Galanti revealed buyers’ concerns surrounding their favorite meal are unlikely to come to fruition anytime soon.
Speaking to Bloomberg, Galanti said that the beloved hot dog combo “is probably safe for a while” — news that will likely be music to many shopper’s ears.
“The underlying culture of the company hasn’t changed,” Galanti said, speaking on how the company has changed since its inception. “It is what the founders wrote, the five things that you’re going to do, in this order: Obey the law, take care of your customers, take care of your employees, respect your suppliers — be tough, but fair. Then, reward your shareholders.”
It looks like Costco’s customers will be able to rest easy knowing they’re wallets wont be left emptied when ordering a hot dog and soda combo in the near future.
