'Lightning just struck me': Why Costco's CFO says the price of the $1.50 hot dog and soda combo is 'forever' [MSNBC.com]
Costco Wholesale Corporation (COST)
Last costco wholesale corporation earnings: 3/5 04:15 pm
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Source: MSNBC.com
Smith Collection/gado | Archive Photos | Getty ImagesCostco's chief financial officer has suggested the wholesaler will keep its famous hot dog and soda combo at $1.50 "forever."During the company'sfiscal fourth-quarter earnings callAfter joking that "lightning just struck me" after he got the question — a reference to the $1.50 combo's mythical status at the company — Galanti said that it will always be other parts of the business that are keeping the hot dog's price in the same place it's been since 1985."Some businesses that are doing well with margin ... 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," he said.Other Costco food court items haveincreased in price recentlyThe price of a 20-ounce soda also rose from 59 cents to 69 cents over the summer.Galanti's comments echoed the words of Costco CEO Craig Jelinek,who in July was askedSquawk on the Street"No," he said.Sign up now:Get
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