Costco hikes membership fee for the first time since 2017

Costco Increases Membership Fees in the US and Canada #

Warehouse club Costco is raising its membership fees in the US and Canada for the first time since 2017. The annual membership fee will increase by $5, from $60 to $65, while the higher-tier “Executive Membership” fee will increase by $10, from $120 to $130 per year. The fee increases will affect approximately 52 million memberships, with more than half being executive memberships. Costco relies on membership fees to maintain competitive prices and generate revenue. Shares of the company rose about 2% following the announcement of the fee increase.