Costco gives update on $1.50 hot dog, soda combo staple

Costco customers do not need to worry about the price of the wholesale club’s popular $1.50 hot dog and drink deal going up anytime soon, the company’s new finance chief assured investors this week.

CFO Gary Millerchip addressed the budget-friendly combo’s fate practically right out of the gate during his first quarterly earnings call on Thursday, after replacing recently retired Richard Galanti, who spent decades in the role.

Costco’s wildly popular $1.50 hot dog and drink combo is “safe,” new finance chief Gary Millerchip said Thursday. (Eric Thayer/Getty Images / Getty Images)

“While I can’t promise to be able to match the humor that Richard Galanti has become famous for, I can promise the same level of open dialogue and transparency you’ve come to expect,” Millerchip said. “Oh, and to clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe.”

COSTCO REVENUE BEATS ESTIMATES AS CASH-STRAPPED CONSUMERS LOOK FOR DEALS ON GROCERIES, DISCRETIONARY ITEMS

The hot dog and soda combo has long been a fixture of Costco’s food court, and so has its $1.50 price. 

Prepared food for sale at a Costco store in Teterboro, New Jersey, on Feb. 28, 2024. (Stephanie Keith/Bloomberg via Getty Images / Getty Images)

The company hasn’t increased the combo’s cost in the roughly four decades it has offered it, thanks to a pledge from its founders, FOX Business previously reported.

COSTCO BUCKS TREND: SURGE IN FOOT TRAFFIC DESPITE TOUGH ECONOMY

During the end of his tenure, Galanti faced questions about maintaining the combo’s price tag. In September 2022, when inflation was much higher than its current level, he said the margin on its gas and travel businesses “help us be more aggressive in other areas or… hold the price on the hot dog and the soda a little longer, forever.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

But before Galanti handed the reins over to Millerchip earlier this year, he told Bloomberg that the $1.50 hot dog combo was “probably safe for a while.”

FOX Business’ Aislinn Murphy contributed to this report.