Costco cut prices on Kirkland Signature items by up to $10 during its third quarter, the wholesale retailer announced during an earnings call on May 28, addressing customer complaints that the private-label brand had become increasingly expensive.
The price reductions affected four key products across food, home goods, and sporting equipment categories. Kirkland Signature Crispy Wings fell from $16.99 to $14.99, Milk Chocolate Almonds dropped from $19.99 to $18.99, Golf Balls declined from $32.99 to $29.99, and King Size Sheets were reduced from $89.99 to $79.99, according to CFO Gary Millerchip during the call.
The affected products saw price reductions ranging from roughly $1 to $10 across the categories. Millerchip stated that Costco’s goal is to be “the first to lower prices where we see opportunities to do so.” CEO Ron Vachris reinforced the company’s broader commitment, saying “Our goal is to be the first to lower prices and last to raise them.”
Costco’s move reflects a strategic effort to maintain member value amid elevated inflation. The company aims to sell Kirkland Signature products for approximately 20% less than comparable national brands, according to company statements. Customers had flagged several Kirkland items on social media as becoming noticeably more expensive over the years; some shoppers noted that the chocolate-covered almonds had risen from $17 to $27 in Canada within a few years.
This is not the first time Costco has used price cuts on its private label to reassure members. In 2024, the retailer reduced prices on multiple Kirkland items, including macadamia nuts (from $18.99 to $13.99), Spanish olive oil (from $38.99 to $34.99), and boneless chicken tenders (a 13% reduction that led to a 21% increase in pounds sold). Millerchip noted that the pricing strategy is intentional, with the company using lower prices on everyday items as a way to invest in member value while sustaining its competitive position against other retailers.
Net sales for the third quarter increased 11.6% to $69.15 billion, up from $61.96 billion in the prior year. Costco currently operates 931 warehouses worldwide, including 639 in the United States.
Sources
- USA Today — Reported the four specific Kirkland price cuts announced during the May 29 earnings call, including dollar amounts and CFO Millerchip’s statement on pricing strategy.
- Fox Business — Detailed the price reductions across categories, customer complaints about rising Kirkland prices, and CEO Vachris’s pricing commitment.
- Quartz — Confirmed the price cuts of up to $10 on wings, chocolate almonds, golf balls, and king-size sheets.
- MOJO Sales and Branding — Noted Costco’s goal to sell Kirkland products for 20% less than comparable competitor options.
- Money Talks News — Reported on prior Kirkland price reductions, including a 25% drop in organic extra virgin olive oil pricing.
