Costco is well-known for many things, but its $1.50 hot dog and soda combo is full on famous — mostly because it has stayed the same price since 1985.
In fact, Costco co-founder Jim Sinegal once infamously told the company’s former CEO Craig Jelinek: “If you raise the effing hot dog, I will kill you. Figure it out.”
Taking Sinegal’s kind words to heart, the price has stayed the same, even amid inflation and rising supply costs.
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But in a new interview with Bloomberg, Costco’s CFO Richard Galanti isn’t making any promises that the price won’t change, eventually.
When asked about the future of the $1.50 combo when Galanti steps down on March 15, he responded ambiguously.
“It’s probably safe for a while,” Galanti said.
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Galanti is set to be succeeded by Gary Millerchip, the former CFO of Kroger.
Still, Galanti insists that during his nearly 40-year tenure at the company, the essence of Costco hasn’t changed either.
“The underlying culture of the company hasn’t changed,” he told Bloomberg. “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.”
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Costco is coming off of a strong fiscal Q2 2024, with a net income of $1.74 billion quarter compared to $1.47 billion at the same time last year, with revenue increasing $55.27 billion from the same time last year.
Costco was up over 55% year over year as of Wednesday afternoon.
