Costco tells grocery committee company always looking to lower prices

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COO of international, Canada divisions appears before House of Commons committee studying the cost of food

The Canadian Press

Rosa Saba

Published Feb 13, 2024 • Last updated 10 minutes ago • 3 minute read

Pierre Riel, executive vice-president and chief operating officer of Costco Wholesale International and Canada, waits to appear as a witness at the Standing Committee on Agriculture and Agri-Food (AGRI) in Ottawa on Tuesday, Feb. 13, 2024. Photo by PATRICK DOYLE/THE CANADIAN PRESS

Costco has decreased the prices of hundreds of items since the start of 2023, according to executive Pierre Riel.

The chief operating officer of Costco Wholesale Corp.’s international and Canadian division made the comments in Ottawa to a House of Commons committee studying food prices.

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“We have mitigated price increases and accelerated price decreases as input and commodity prices drop,” Riel told MPs in French.

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The Canadian Press

2024-02-13 14:30:50

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