Costco Just Dropped Prices On Several Popular Items—Here's What's Cheaper
Grocery prices are still on the rise in the United States. Years of inflation have impacted a myriad of grocery essentials, ranging from eggs to olive oil. But in a refreshing change of pace, several popular food items recently became more affordable at America's top warehouse club chain.
In an earnings call with investors on Dec. 12, Costco executives announced that they had just lowered prices on three essential food items: Kirkland Signature Organic Peanut Butter, Kirkland Signature Chicken Stock, and Kirkland Signature Sauvignon Blanc.
The price of peanut butter dropped from $11.49 to $9.99, and the price of chicken stock dropped from $9.99 to $8.99. Meanwhile, Costco reduced the price of its private-label Sauvignon Blanc from $7.49 to $6.99.
CFO Gary Millerchip said that these are only a few examples of the items that they recently lowered in price, so shoppers should keep an eye out for price drops on additional products during their next Costco trip. The company's objective in reducing prices, according to executives, is to provide members with relief on their grocery bills wherever possible.
"Our goal is always to be the first to lower prices where we see the opportunities to do so," Millerchip said.
In pursuit of that goal, Costco has been rolling out grocery price reductions since the start of 2024. The retailer revealed in March that it had lowered prices for batteries, reading glasses, beverages, frozen fruit, and more. Costco announced another wave of price declines in September for products such as its Kirkland Signature Fresh Boneless Skinless Chicken Tenderloins, Kirkland Signature Aluminum Foil, Kirkland Signature Macadamia Nuts, Kirkland Signature Baguettes, Kirkland Signature Laundry Detergent Pacs, and Kirkland Signature Spanish Extra Virgin Olive Oil.
Moving forward, Costco plans to continue working to keep its prices affordable for members. These efforts may entail holding certain prices steady even as the company's own costs increase and asking vendors to "contribute with lower prices," according to CEO Ron Vachris.
"That's something that we've done for the history of the company. We're going to continue to invest in price," he said during the earnings call.
Costco also continues to add new products to its popular Kirkland Signature brand, which is widely beloved among members for its combination of quality and affordability. Just last quarter, Costco introduced new Kirkland Signature Oxi Powder and Kirkland Signature Food Storage Bags, "both offering significant value to the national brand alternatives," Millerchip said.
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