Things are getting pricey.
Costco still refuses to raise the price of certain food products."We always want to be the best value in the marketplace," Nelson said, per Fox Business."And to the extent that we continue to show that, I think it's easier for us to pass on higher pricing, or higher freight costs, or raw material cost, assuming that we show that value in the marketplace."
Nelson said he particularly wanted to address"incorrect information floating around on social media" about the company increasing the price of its beloved $1.50 hot dog-and-soda combination."Let me just say the price, when we introduced the hot dog-soda combo in the mid '80s, was $1.50. The price today is $1.50, and we have no plans to increase the price at this time," he reiterated.Costco isn't just looking at the prices of food items either.
in June. After all, Costco usually raises membership fees every five years and the last hike was in June 2017. During an earnings call on March 3, Costco's Chief Financial OfficerBut Nelson has now confirmed that Costco is no longer planning to raise the cost of its membership any time soon.
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