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Mario Tama - Richard Galanti - Costco answers whether it is raising membership fee: 'Question of when, not if' - fox29.com - state California - Canada - Washington - city Inglewood, state California

05.03.2023 / 05:19

Costco answers whether it is raising membership fee: 'Question of when, not if'

Shopping carts are lined up in front of a Costco store on February 25, 2021 in Inglewood, California. (Photo by Mario Tama/Getty Images) Costco is certain to raise its membership fees in the future, but as the sixth anniversary of the last fee hike approaches, the company says there are no immediate plans to do so while membership rates are at all-time highs. "In our view, it's a question of when, not if," Costco CFO Richard Galanti told investors on a Q2 earnings call on Thursday. Galanti acknowledged that June would mark six years since the Washington-based retail giant last raised the price of its Gold Star membership, which currently costs $60.

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Richard Galanti - Costco maintaining low rotisserie chicken prices - fox29.com

04.03.2023 / 00:33

Costco maintaining low rotisserie chicken prices

Costco CFO Richard Galanti said the company is maintaining low prices on certain products – including its coveted rotisserie chicken – to drive membership and sales. Galanti, on the retailer's earnings call this week, said the membership warehouse has kept its rotisserie chicken price at $4.99, because it is "is an investment in low prices to drive membership – to drive the sales in a big way."Rotisserie chicken is just one example of key categories that members specifically shop for where the company has invested in pricing. However, this comes as Costco posted revenue of $55.27 billion in the period, falling short of Wall Street forecasts. Ten analysts surveyed by Zacks expected $55.64 billion. Inflation remains a headwind, though the company acknowledged that it's been improving somewhat. During the fourth quarter, which ended in August, the company's estimated year-over-year price inflation was 8% for that prior fiscal year.

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Richard Galanti - Costco memberships may cost more this summer - fox29.com - Canada

13.03.2022 / 06:59

Costco memberships may cost more this summer

Costco members have to shell out even more money to gain access to coveted items like its in-house rotisserie chicken, Kirkland bacon and big cheese wheels. That five-year mark is coming up this June, according to Costco Chief Financial Officer Richard Galanti, who hinted to investors that another fee increase could hit this summer. "On average, they [membership fee increases] were done about every five — a little over every five and a half years, about five years and seven months," Galanti told investors during the last earnings call. "So five years from the anniversary of the June of '17 would be this June." Galanti did not offer further specifics. In 2017, the company's annual membership fee increase impacted around 35 million members, half of whom were executive members, according to its March 2017 earnings report. At the time, fees increased by $5 for all personal and business memberships in North America.

Richard Galanti Canada reports Kirklands

Richard Galanti - Costco limits purchases on paper goods, water & key items amid supply chain delays - fox29.com - Los Angeles

24.09.2021 / 23:11

Costco limits purchases on paper goods, water & key items amid supply chain delays

LOS ANGELES - Costco confirmed it will start limiting purchases on essential household products for what has become a perfect storm of supply chain delays for many retailers. "We are putting some limitations on key items like bath tissues, roll towels, Kirkland Signature water, high demand cleaning-related skews related to the uptick in the delta-related demand," Costco chief financial officer Richard Galanti said during the company’s fourth quarter earnings call. The wholesale retailer has already been warning customers to expect delays on select items. Costco's current supply chain and inflationary pressures, which include port delays, higher labor and freight costs, and shortages on everything from shipping containers, trucks, and

Richard Galanti Los Angeles reports

Richard Galanti - Costco food courts, sampling and churros coming back - fox29.com

29.05.2021 / 20:05

Costco food courts, sampling and churros coming back

Costco is giving its members even more reasons to celebrate the winding down of the pandemic. The warehouse retailer is reviving its food courts and food sampling, which were pared back or eliminated during the height of coronavirus."The first wave of locations, about 170 of our 550 ish locations in the U.S.

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Richard Galanti - Costco facing cheese shortage amid imported food shipping delays - fox29.com - Los Angeles - city Seattle - county Long - county Oakland

10.03.2021 / 23:23

Costco facing cheese shortage amid imported food shipping delays

Costco.The big-box retailer is having difficulty stocking up on imported cheeses due to a shortage of shipping containers, which is causing delays in the shipment of wheels of the charcuterie staple among other imported foods.Costco is facing delays from its suppliers, with ports backed up in Long Beach, Los Angeles, Oakland and Seattle, said Richard Galanti, Costco's executive vice president and chief financial officer, in an earnings call last week.

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