The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: This is Brandon Cheatham on for Paul. I was wondering, are you seeing any change in consumer behavior such as trade down or
maybe trade to private label brands, anything of that nature?
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Got it. And just a point of clarification on price inflation. Has that moderated the past couple of months as I think some of your
monthly updates have indicated? Or are you still seeing that accelerate?
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MARCH 03, 2022 / 10:00PM, COST.OQ - Q2 2022 Costco Wholesale Corp Earnings And February Corporate
Sales Call
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Got it.
Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst
: Richard, first thing, philosophically, how do you guys think about closing the gap on the 2 membership tiers, right, maybe encouraging
some further conversion to Executive. And I don't know if you've done any kind of work with your current Executive Members. What
would they like in the membership that's not there today, right, that perhaps might just -- it might help you take the monthly -- the
annual fee higher.
Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst
: And secondly, where are you on the personalization journey? I know you hired somebody maybe 2 years ago to kind of spearhead
that. Where are we? And does that pick up steam in the next year or so?
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MARCH 03, 2022 / 10:00PM, COST.OQ - Q2 2022 Costco Wholesale Corp Earnings And February Corporate
Sales Call
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