Costco ‘Recession Signal’ Goes Viral as Old CFO Remarks Resurface On Record Beef Prices
BeInCrypto
A viral claim about a Costco recession warning is based on outdated 2023 comments rather than current company data.Summary
Recent social media claims suggesting Costco has issued a new recession warning are misleading, as they rely on comments made by former CFO Richard Galanti during a 2023 earnings call. Current Costco leadership reports that member spending remains consistent, with high-end meat purchases actually outpacing cheaper alternatives. While record-high beef prices and macroeconomic concerns—such as falling cardboard box production and Goldman Sachs recession forecasts—keep anxiety high, the viral Costco clip does not reflect the company's current financial sentiment. Decentralized prediction markets like Polymarket currently place the odds of a US recession by year-end at approximately 23%.
(Source：BeInCrypto)