Costco Wholesale Corp. said Tuesday that its Wine & More program has been the lowest-priced store in the U.S. since January.
The Wine & Co. program has now averaged $2 per bottle for the last four years, the company said.
The lowest price in the store’s history was $2 in January 2011.
Costco said the Wine & more program has helped to drive down prices in its stores and increase wine sales.
“The Wine &more program has made a difference in our stores’ profits and our ability to serve the communities we serve,” Costco said in a statement.
Costco said its Wine Co. Wine &More program is part of a broader shift to the discounting of wine. “
We’re proud to continue the tradition of providing wine for the community with this program.”
Costco said its Wine Co. Wine &More program is part of a broader shift to the discounting of wine.
The company has also been making a bigger push to expand wine into other grocery stores, with stores in California and Texas opening wine bars.
Wine & More has also expanded to more than 100 grocery stores and has expanded into wine delivery services, with plans to open a delivery service in the Los Angeles area.
The Wine Co., which sells wine for $2 and beer at $3, has been one of the most popular wine brands for Costco customers, as the company has more than a million stores.
But the Wine Co.’s biggest competitor, American Beverage Corp., has struggled.
Its shares have lost about 30% of their value since 2010, as it has struggled to compete with the growing popularity of craft beer.
In a statement, the California-based Wine Co said it is looking to sell its Wine-in-a-Pail brand, which was sold in the United States in March.
American Beverage shares fell about 1% to $9.96 in early trading.
(Editing by Sandra Maler)