Relieved inflationary pressure for American consumers? Costco raises membership fees for the first time in seven years.
Costco announced on Wednesday that starting from September 1st, the annual membership fee for basic members in the USA and Canada will increase by $5, from $60 to $65; Membership fees have always been one of Costco's biggest sources of profit; This is the first time that Costco has raised membership fees since June 2017.
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Costco Is Raising Membership Fees for the First Time in 7 Years
Starting Sept. 1, "Gold Star" membership in the U.S. and Canada will cost $65, up from $60. "Executive Memberships" will go from $120 to $130, with the membership's maximum annual 2% reward increasing from $1,000 to $1,250.
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For the first time in seven years! Costco (COST.US) increases membership fees for both US and Canada.
According to the WiseNews app, Costco (COST.US), the world’s largest chain member storage supermarket, stated on Wednesday that it will increase membership fees in the United States and Canada by $5 starting September 1, with an annual fee increasing from $60 to $65. Its higher level plan, “Black Diamond Card Member” annual fee will increase from $120 to $130. Costco stated that the price increase will affect approximately 52 million members, with slightly more than half being Black Diamond Card Members. Boosted by the news, Costco’s stock price rose more than 2% after hours on Wednesday. As of Wednesday's close, the stock has risen 34% so far this year, outpacing the S&P.
Costco raises membership fee in the US and Canada for the first time in seven years; post-market trading rises over 2%.
USA warehouse retailer Costco (COST.US) has raised its annual membership fee for the first time since June 2017. Regular membership fees in the United States and Canada have increased from $60 to $65, while executive membership fees have increased from $120 to $130. However, the maximum annual reimbursement for executive members has been raised from the current $1,000 to $1,250. The new fees will take effect in September, affecting an estimated 52 million members, with slightly over half being executive members. Membership fees are one of Costco's main sources of revenue, with approximately $4.6 billion in fees collected last year.
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Costco Stock Rallies After Membership Fees Raised for First Time in 7 Years. But High Expectations Could Limit Gains, Analyst Says.
By Bill Peters Membership fees for individuals to rise by $5 for U.S. shoppers starting in September Wall Street analysts have pestered Costco Wholesale Corp. for months over when it would hike its
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By Sabela Ojea Costco Wholesale is increasing its membership fees for the first time since 2017, less than four months after Gary Millerchip took over as its finance chief. Shares of the wholesale
Costco's annual fee increases by 8%! This is the first time since 2017 that the membership fee has been raised.
For the first time since 2017, Costco has increased its membership fees, with basic membership fees rising from $60 to $65 per year and premium membership fees from $120 to $130 per year, affecting approximately 52 million members. The price increase will take effect on September 1st, and as a result of this news, Costco's stock price rose by 2.4% in after-hours trading. Analysts believe that this price increase was expected and is not expected to affect renewal rates.
Kaisi Club has increased its membership fee for the first time since 2017.
On July 11th, Gelunhui reported that the total sales of the same store in June increased by 5.3%, lower than the analyst's expected growth rate of 6.4%. They plan to raise membership fees, with American and Canadian member fees increasing by $5. The annual fee for premium members will increase from $120 to $130.
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Costco Reports a 7.4% Rise in June Net Sales, Hikes Membership Fees