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It was on Costco Wholesale Corporation’s fourth-quarter 2024 earnings conference call, where Gary Millerchip, executive vice president and chief financial officer, and Ron Vachris, chief executive officer, They reported on the new measures that the brand has implemented in favor of its customersalso fulfilling the objective of continuing to increase its sales, which report favorable numbers, not only in the United States, but also internationally.
- Kirkland Signature Reynolds Food Service Aluminum Foil, reduced from US$31.99 to US$29.99
- Kirkland Signature Dry Roasted Macadamia Nutsreduced from US$18.99 to US$13.99
- Kirkland Signature 100% Spanish Extra Virgin Olive Oil 3 Literreduced from US$38.99 to US$34.99
- Costco Bakery Baguette 2-Packreduced from US$5.99 to US$4.99
In additionthe executive vice president specified that the commitment to the sustainability of the brand and the emissions reductions they have collaborated on also offer opportunities to reduce product costs. As an example, Millerchip mentioned KS laundry packets, which were recently converted from a rigid plastic container to a bag, which reduced the price of this product by US$1, going from US$19.99 to US$18.99.
How has Costco managed to maintain its prices in the face of inflation in the United States?
Costco executives said at the same conference that its comparable sales in the United States increased 5.3 percent or 6.3 percent, excluding gas deflation. They also said that, Even though inflation somewhat affected their membership system, they managed to maintain most of their prices. in basic non-food items.
Part of the achievement of business stability was due to great boost that the business is experiencing thanks to its digital platform, so Costco will continue to make good progress with its “technology priorities,” Millerchip said.
The smooth flow of products in the supply chain through Panama and Baltimore It has also helped Costco maintain its prices and its numbers remain positive, according to the quarterly report.
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