A man pushes a cart outside a Costco supermarket in Los Angeles on March 14, 2020.(Xinhua/Qian Weizhong via Getty Images / Getty Images)
Facing customers’ worries that prices of some Kirkland Signature products were getting too expensive, Costco is cutting prices on some of its house brand’s products.
What they’re saying:
“They’ve become too expensive,” one U.S. shopper wrote on Reddit about Kirkland Signature’s chocolate-covered almonds, which other shoppers in the U.S. and Canada had noted on social media also complained were costing more lately.
“I love the Kirkland brand 1.5 kg chocolate covered almonds,” another Costco shopper in Canada said a year ago. “They used to be $17 then they went to $20. Now they are $27!! “
Big picture view:
In an earnings call last week, executives said the cuts will affect at least four of its key private label items. CFO Gary Millerchip noted the reductions will cover food, home goods, and sporting equipment and range from $1 to $10, according to FOX Business.
By the numbers:
While the company did not say specifically what prompted the cuts, Millerchip pointed out that when Costco cut the prices of its Kirkland Signature boneless chicken tenders by 13% in 2024, sales went up by 21%.
The Source: Information for this article was taken from FOX Business. This story was reported from Orlando.
