CNBC- Some good news for inflation-weary Americans: There will be no price hike on Costco’s hot dogs. In an interview Monday on CNBC’s “Squawk on the Street,” CEO Craig Jelinek had a one-word answer when asked whether he would raise the signature food court item’s price: “No.”
So there it is folks! I don't care what market projections may say, how it seems financially impossible, or what sort of fake news you read on the internet by people falling for obvious troll accounts.
The King of Costco officially declared that the greatest deal on the planet will NOT cost more than 6 quarters despite inflation, gas prices, and all the other chaos of this crazy world unfolds in the most blunt way somebody possibly can, as this gif perfectly illustrates.
There isn't any corporate jargon in a hard No that some old bag like Obi-Wan Kenobi can say can be interpreted as true from a certain point of view. Just a simple black and white answer to a simple black and white question from someone that not only cares about his customers' wallets but his own fucking life.
Mental Floss- When Costco president W. Craig Jelinek once complained to Costco co-founder and former CEO Jim Sinegal that their monolithic warehouse business was losing money on their famously cheap $1.50 hot dog and soda package, Sinegal listened, nodded, and then did his best to make his take on the situation perfectly clear. "If you raise [the price of] the effing hot dog, I will kill you," Sinegal said. "Figure it out."
Taking his words to heart, Jelinek—who became Sinegal's successor in 2012—has never raised the price on Costco's hot dog. Incredibly, it has sold for the same $1.50 since the retail club first introduced the dogs to customers in 1984. The quarter-pound, all-beef tube and 20-ounce soda combo appears to be inflation-proof and immune to the whims of food distributors.
Obviously not all food court staples were so lucky during these uncertain times…
But as long as W. Craig Jelinek is alive as the CEO of Costco, the price of a 1/4 pound PLUS hot dog and all the soda you can fit in your human is not going up one red cent (and if it does, you can be assured that Jelinek's ass is getting murdered by Jim Sinegal).
For more financial news, check out these two mamalukes chopping it up in the Family Office on the brand spanking new Barstool Finance channel.