Costco cuts prices on popular Kirkland Signature items

Oct. 7, 2024 | Monday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King, who discusses Costco price cuts, an uncertain future for 23andMe, and a big week for holiday shopping.

Cold-cut crisis as virus ravages pig farms in Italy

Italy is where some of the more delicate cold cuts, like prosciutto, come from.

But there’s a virus sweeping through pig farms there and, so far, 90,000 pigs have had to be filled.

Food industry insiders fear shortages of salami, mortadella and pancetta. The delicacies are found in almost every supermarket deli counter, sandwich shop and Italian restaurant in the U.S.

23andMe worries what will happen to its genetic data

23andMe is struggling and now there’s worry about what will happen with all of its genetic data.

It’s facing an uncertain future after a drop in share prices, a recent board resignation and a data breach last year that affected nearly seven million customers.

23andMe has said it is taking steps to protect people’s genetic data after a hack in December.

Google’s grip on the nearly $300 billion search advertising business is loosening.

The Wall Street Journal reports rivals are beginning to eat into its lead, and new offerings—fueled by the rise of artificial intelligence and social video—threaten to reshape the landscape.

TikTok has recently started allowing brands to target ads based on users’ search queries—a direct challenge to Google’s core business.

Perplexity, an AI search startup, plans to introduce ads later this month.

Costco is cutting prices

Costco revealed during a recent earnings call that it has slashed the prices of numerous popular Kirkland Signature items.

Chief Financial Officer Gary Millerchip said the price of Kirkland macadamia nuts has fallen from $18.99 to $13.99, a 3-liter bottle of Spanish olive oil dropped from $38.99 to $34.99, and standard foil from $31.99 to $29.99.

The discounts come as Costco’s plan to raise the price of its membership for the first time in seven years took effect in September.

Amazon, Walmart and Target start holiday deals this week

This week unofficially kicks off holiday spending and Amazon isn’t the only retailer hyping major deals this week.

Amazon Prime Days start tomorrow.

Target has launched its own fall circle week sale, promising savings through Oct. 12 for shoppers enrolled in both its free and paid circle memberships.

Walmart’s first holiday deals sale starts online on Tuesday with a 12-hour head start for Walmart+ members.