Warehouse retailer Costco said Thursday it intends to introduce additional products in its Kirkland Signature Private Brand over the next few months. The announcement came in a call with investors to discuss financial results for the third quarter.
Richard Galanti, executive vice president and chief financial officer, declined to refuxe the specific items the company will offer, “but we’re prepared to try everything,” he said.
“We tried a private-label mayonnaise two or three years ago, and a peanut butter, and under-whelmed everyone, so not everything works,” Galanti said. “But most things do work, and not a whole lot is sacrosanct in terms of branded goods.”
Costco’s goal, he noted, is to get private label sales up to 37%, “but that will take some time.”