Costco cuts prices on produce, meat and home goods after tariff refunds

Costco on Thursday said it received $184 million in tariff refunds in the company's fourth quarter, the majority of which was reinvested into lower pricing for members shopping at the retail giant's warehouses. The big box retailer said the lower pricing from tariff refunds was applied to a range of everyday items, including food and beverages, as well as other product categories. Costco CEO Ron Vachris said on the company's earnings call that the company "received some initial tariff refunds in the fourth quarter, and we reinvested some of these dollars to give value back to our members. "This was predominantly through price reductions on a number of items in the second half of the quarter, including everyday items in produce, meat and beverages and some nonfood items such as home furnishings and hardware."