World News
Costco \'recession signal\' claims spread as past CFO remarks, record beef prices draw attention
Claims spreading online that Costco has recently issued a new recession warning were not supported by current statements, with widely shared remarks traced to a 2023 earnings call. Then-CFO Richard Galanti described consumers shifting from beef to cheaper protein. Costco management later said member spending remained broadly consistent and higher-priced meat was growing faster. Attention returned as U.S. beef prices rose to record levels and other indicators added to slowdown concerns.
