Gary Millerchip, CFO and executive vice president of Costco, made that point clear in an earnings call with investors this week.
“To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Millerchip said at the time.
His comments come after the company’s former CFO, Richard Galanti, sparked some concern about the cost of the combo, after recently suggesting its price tag could change following his exit.
Despite the decades-high inflation seen in recent years, the signature shopper’s snack has cost the same since its debut in the 1980s. But not without some apparent effort over the years.
Former Costco CEO Craig Jelinek remarked in 2018 that he “came to [co-founder Jim Sinegal] once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.’”
“And he said, ‘If you raise the [expletive] hot dog, I will kill you. Figure it out,’” Jelinek told 425 Business at the time.
He also said the company eventually resorted to in-house production for the hot dogs to curb costs.
We have more on this at The Hill.
