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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.