Costco CFO Richard Galanti Says His Days as CFO Are Numbered, but the $1.50 Hot Dog Combo Is "Forever"
In 1984, warehouse club retail chain Costco Wholesale (NASDAQ: COST) introduced a combo meal to its food court that eventually grew into a national sensation. The company began offering an all-beef hot dog and drink combo for $1.50. Adjusted for inflation, the deal would be priced at about $4.50 today.
Forty years later, Costco still charges the same $1.50 for its hot dog combo today. According to CFO Richard Galanti, the company intends to keep this price "forever," jokingly saying it out of fear of being struck by lightning otherwise.
On Tuesday, Feb. 6, Galanti announced that he would be stepping down from his CFO position at Costco in March. He's been CFO since 1985, and he's consequently responsible in large part for keeping the combo deal at $1.50 for all of these years.
Source Fool.com
