Costco reveals Kirkland Signature item price cuts

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The Fitz-Gerald Group principal Keith Fitz-Gerald spotlights Costco, Palantir and Lockheed Martin stocks ahead of the market open.

Costco revealed during a recent earnings call that it has slashed the prices of numerous popular Kirkland Signature items, welcome news for Americans affected by inflation since 2021. 

Chief Financial Officer Gary Millerchip said the price of KS Macadamia nuts has fallen from $18.99 to $13.99, Spanish Olive Oil 3-liter from $38.99 to $34.99, Standard Foil from $31.99 to $29.99, laundry packs from $19.99 to $18.99 and the Baguette 2-pack from $5.99 to $4.99.

Millerchip said the price of Kirkland Signature Boneless Chicken Tenders has fallen by 13%, resulting in a 21% increase in pounds sold.  

«Kirkland Signature offers significant member value compared to the national brands and continues to grow at a faster pace than our business as a whole,» he added. 

COSTCO’S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT

Customers look over food items at a Costco store in Colchester, Vermont, in August. Costco recently announced during an earnings call that the prices of some Kirkland Signature items will be reduced. (Robert Nickelsberg/Getty Images / Getty Images)

The discounts come as Costco’s plan to raise the price of its membership for the first time in seven years took effect in September. 

The wholesale club increased annual membership fees by $5 and $10 in the U.S. and Canada, with «gold star» and business memberships up from $60 to $65, and executive memberships increasing to $130 from the earlier $120. 

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Shoppers load up their vehicles outside a Costco store in Bayonne, N.J., in December 2023. (Angus Mordant/Bloomberg via Getty