Costco Wholesale Corp Q3 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst : Bob, I guess we're in uncharted territory here with inflation in recent times. To what degree do you guys -- and I don't think you do much of this -- test where you're going to take pricing up in certain places, see what the consumer reaction is and then go more broadly? And have you seen, item by item, any elasticity where you'd say, okay, we're either not going to roll out the price increase or roll it back?

Question: John Edward Heinbockel - Guggenheim Securities, LLC, Research Division - Analyst : Okay. And then maybe secondly, gas gallons, right, so what has that been up? And I guess, historically, right, higher gas prices have translated into share gains for you. Are you starting to see that accelerate and drive some incremental traffic to clubs? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 26, 2022 / 9:00PM, COST.OQ - Q3 2022 Costco Wholesale Corp Earnings Call

Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst : This is Brandon Cheatham on for Paul. I just wanted to ask about supply chain bottlenecks. Any particular categories that have improved, any that have gotten worse? I think some of your competitors have mentioned general merch and furniture as some categories that have been challenging. Just wondering if you all are seeing that as well.

Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst : And I think in the past, you've mentioned that if you did have shortages, you would be able to kind of switch out a vendor or utilize an existing vendor for new product. Has that kind of slowed because the supply chain has improved?