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Richard Galanti - 3 ” - 3 “ - 3 ” Costco - 2 New York CNN — - 1 Gary Millerchip - 1 Jim Sinegal - 1 ” Sinegal - 1
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☆ Costco’s $1.50 hot dog price is ‘safe’
  + stars: | 2024-05-31 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Costco’s new chief financial officer has a reassuring message for inflation-weary customers: don’t worry about the price of the $1.50 hot dog-soda combo. “To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Costco CFO Gary Millerchip said on an earnings call with analysts Thursday. With Costco’s leadership change — and other longtime deals like Trader Joe’s 19-cent bananas and Planet Fitness’ $10 membership ending amid rising inflation — some had speculated about the future of Costco’s $1.50 hot dog. If Costco’s hot dog deal kept pace with inflation, it would be three times as expensive today — nearly $4.50. The $1.50 hot dog is a powerful marketing tool for Costco and is synonymous with Costco’s brand.
Persons: New York CNN —, Gary Millerchip, Richard Galanti, ”, Jim Sinegal, “, ” Sinegal, Craig Jelinek, ” Millerchip Organizations: New, New York CNN, Costco, Walmart, Target, ” Costco, Seattle Times Locations: New York
☆ Costco sold out of $2,000 gold bars. Now, it’s selling silver coins
  + stars: | 2024-03-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +3 min
Costco recently started selling silver coins for the first time, finance chief Richard Galanti told CNN. Costco is trying to replicate its recent success with gold bars. It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. After all, not many people are actually stashing away gold bars in their homes. We constantly buy that stuff and intentionally run out of it from time to time.”Costco is also selling precious metals as they become more valuable.
Persons: Richard Galanti, King Charles III, “, ”, Galanti Organizations: New, New York CNN, Costco, CNN, Federal Reserve, Treasury Locations: New York
☆ Costco is testing out a new system for entering stores
  + stars: | 2024-01-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Bad news if you’re mooching off of someone else’s Costco membership: The retail giant is cracking down. Costco membership cards are non-transferable, but the company allows members to give a second household card to one other person in their home. But Costco has noticed that non-members have been sneaking in with membership cards that don’t belong to them — particularly since Costco expanded self-checkout. And now, Costco is testing out a system that requires members to scan their membership cards at the store entrance — instead of just flashing the card to employees. Costco is testing the scanners at a handful of stores to see if they help.
Persons: you’re, ” Costco, Richard Galanti, “, ” Organizations: New, New York CNN, Costco, Shoppers, CNN, Netflix Locations: New York, Washington State
☆ Costco is cracking down on sharing membership cards
  + stars: | 2023-06-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
Since Costco has expanded self-checkout, the company has noticed that non-members have been sneaking in to use membership cards that don’t belong to them. “We don’t feel it’s right that nonmembers receive the same benefits and pricing as our members,” Costco said in a statement. Costco members pay either $60 for a regular membership or $120 for an executive card every year to shop at clubs. Any changes to membership growth could hurt Costco. Netflix has also recently cracked down on members sharing passwords.
Persons: ” Costco, Costco Organizations: New, New York CNN, Costco, Sam’s Club, Netflix Locations: New York
☆ Costco Not Ready to Cut Prices as Shipping, Commodities Costs Fall
  + stars: | 2022-10-06 | by ( Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +7 min
Richard Galanti, Costco Wholesale CFO Photo: Costco Wholesale Corp.“It takes time for changes to come through,” Mr. Galanti said. A company’s freight costs vary depending on whether they are fixed by contract for a period of time or based on spot-market rates that can change more quickly. The length of contracts as well as the company’s ability to renegotiate the terms of its agreements also affect the retailer’s freight costs, he said. These cost pressures will persist, as wages don’t tend to come down once they have gone up, Mr. Galanti said. Price increases have also hit food court items such as individual sodas and whole pizzas because of rising costs, Mr. Galanti said earlier this year.
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