Costco has received about $184 million in tariff refunds and plans to use the money to cut prices on everyday groceries including avocados, steaks and butter, company executives said.

Chief Financial Officer Gary Millerchip told analysts the retailer would pass the refunds back to shoppers rather than keep the savings, in a move aimed at holding down food prices for members.

The announcement comes as retailers across the United States wrestle with the cost of import duties, which have pushed up prices for many household goods over the past year.

Costco has long used its buying power to undercut rivals on food, and the refunds give it fresh room to cut prices at a time when shoppers are hunting for value on tight budgets.

The price cuts are expected to roll out across Costco warehouses in the coming weeks. Executives said the company would keep looking for ways to ease pressure on members’ wallets as tariff costs move through the system.