By Annual Costco Membership cost Increases Fees to $10 for the First Time Since 2017
costco membership cost
As the well-known warehouse chain gets ready to increase its membership fees for the first time in seven years, Costco bargain hunters will have to pay an extra $5 to $10 a year.
As the well-known warehouse chain gets ready to increase its membership fees for the first time in seven years, Costco bargain hunters will have to pay an extra $5 to $10 a year.
In a monthly sales report released on Wednesday, the Issaquah, Washington-based company announced an 8% increase in the fee required to access its over 700 warehouses across the United States and Canada.
Beginning on September 1, the new fees will increase the cost of Costco’s basic Gold Star membership from $60 to $65 per year, and the premium Executive membership from $120 to $130. Despite several years of unusually high inflation rates that have finally started to decline in recent months, the annual fee had stayed the same since 2017.
Costco membership cost Updates 2024
Costco has become an even more popular shopping destination as a result of its dedication to providing low prices on a wide range of food and other merchandise, even in the face of inflationary pressures that are straining household budgets. As a result, the company’s profits have increased, making its stock highly sought after by investors. Over the past 18 months, Costco’s stock has almost doubled, raising the company’s market value by approximately $180 billion.
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Following the release of the fee increase and its most recent sales results, Costco’s stock increased by more than 2%. The shares will reach a new high if the stock performs similarly during Thursday’s regular trading session.
In addition to the fee increase, costco membership cost revealed that its sales for the five weeks ending July 7 increased to $24.48 billion, 7% more than the same period the previous year.
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