Sam’s Club soda and hot dog combo now $1.38, cheaper than Costco

Nov. 15 (UPI) — Sam’s Club shoppers can rejoice with the announcement that the wholesale retail chain is lowering the price of its soda and hot dog combo meal to $1.38, making it cheaper than its chief competitor Costco.

Walmart, Sam’s Club’s parent company, announced the move during a third quarter earnings call with investors. CEO Doug McMilon said the reduced price will help make the “everyday shopping trip better.” The new price is already being advertised on the company’s website, quipping that “Frankly, it can’t be beat.”

“The members’ dollar [is] going further at Sam’s Club, too, with racks of lamb and lobster tails priced more than 40% lower than last year,” McMilon said, CNN reports.

Sam’s Club and Costco held firm that the price of their respective soda and hot dog meals would not increase throughout the COVID-19 pandemic or as inflation gripped the economy. Both stores charged $1.50 for the meal until Tuesday when Sam’s Club decreased its price by 10%.

In September, Costco Chief Financial Officer Richard Galanti said the price of its combo meal will stay $1.50 forever. With Sam’s Club undercutting that price, it remains to be seen if Costco changes course to lower its price.

Walmart’s third quarter earnings for fiscal year 2023 revealed an 8.7% increase in revenue compared to the same quarter last year, amassing $152.8 billion. Membership to its stores increased by 10% over the second quarter.

The membership increase comes in spite of an increase in annual costs that took effect in October. The price of a basic yearly membership increased from $45 to $50 and the Sam’s Club Plus membership increased from $100 to $110.

Sam’s Club memberships also undercut Costco, which costs $60 and $120 annually based on a similar tier system.

Shares in Walmart stock were up 6.62% at the close of market today, reaching $147.44.