• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Costco hikes membership fee for the first time since 2017

by July 11, 2024
written by July 11, 2024

You’ll soon have to pay more if you want to shop at Costco.

The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. That’s an increase to $65 from $60 for annual memberships. Its higher-tier plan, called “Executive Membership,” will increase to $130 a year from $120.

Costco said the fee increases would affect around 52 million memberships, a little over half of which are executive memberships.

Shares rose about 2% in extended trading Wednesday.

It marks Costco’s first membership rate increase since June 2017. On average, the company has raised rates roughly every five and a half years — which would have put Costco on track to raise the fee in late 2022 or early 2023.

However, Costco held off on raising fees prior to now. In interviews with CNBC, CEO Craig Jelinek previously said it wasn’t the right time as consumers dealt with high inflation. The company’s CFO Richard Galanti made similar comments on prior earnings calls.

Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Its rival, Walmart-owned Sam’s Club, hiked its own membership fee in 2022 for the first time in nine years. Yet even after the fee bump, a Sam’s Club membership was cheaper — at $50 for club members and $110 for members of its higher-tier level, “Plus,” on an annual basis. At BJ’s Wholesale, annual membership fees are $55 and $110, for club members and its own higher tier, respectively.

Costco said it stepped up enforcement last year to make sure shoppers weren’t using other members’ cards. It added an extra check for memberships in self-checkout aisles. The moves were reminiscent of Netflix, which has also cracked down on people who use its service without paying.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
S&P 500 closes above 5,600 for the first time, lifted by gains in Big Tech
next post
Russia interfering in 2024 election to help Trump, US intelligence officials say

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • DAVID MARCUS: Hey Dems, knock it off with the anti-Tesla stochastic terrorism

    March 28, 2025
  • The dollar index managed to stabilize and start a recovery

    August 7, 2024
  • Extreme heat is prompting higher home cooling costs. It is also putting some individuals at risk

    July 31, 2024
  • Dems vow to fight ‘tooth and nail’ as Supreme Court takes up campaign finance case

    July 1, 2025
  • As inflation cools, Social Security could pay out a smaller COLA increase

    July 12, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,248)
  • Investing (634)
  • Stock (935)

Latest Posts

  • State Department to merge Palestinian Affairs Office with US Embassy in Jerusalem

    May 6, 2025
  • ‘Promises kept’: Trump signs executive order to ‘aggressively’ make IVF more affordable and accessible

    February 19, 2025
  • Democrats coordinate multi-state response to Trump’s funding freeze

    January 29, 2025

Recent Posts

  • Biden-era guidance encouraged use of Signal app by highly-targeted govt officials: ‘Best practice’

    March 25, 2025
  • Outgoing WH official calls for US to bolster cybersecurity workforce by hiring non-degree holders

    January 8, 2025
  • Trump, Prince William sit down for meeting in Paris after Notre Dame ceremony

    December 8, 2024

Editor’s Pick

  • Kevin Hassett ‘very, very confident’ courts will back Trump’s tariffs amid legal setback

    June 1, 2025
  • Morning Glory: Trump won—what a relief

    November 7, 2024
  • Top House Dem exposes party’s strategy to blame Republicans for looming government shutdown

    September 24, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock