Costco is hiking its basic membership fee for the first time since 2017, increasing the annual charge to $65 from $60, the retailer announced on Wednesday.
The 8.3% cost increase takes effect on September 1, the warehouse club announced in a statement. The cost of a premium membership is rising to $130 from $120, the Issaquah, Washington-based company said. Costco also said the maximum annual 2% reward for its executive membership will rise to $1,250 from $1,000.
The pricing change affects about 52 million memberships. Costco has a track record of increasing membership costs every five years or so, but company executives had said they were holding back as shoppers grappled with high inflation.
In 2022, warehouse club rival Sam's Club boosted its basic annual fee to $50 and its premium to $110 for the first time in nine years.
While a Costco membership will cost more, the company's chief financial officer in May emphasized it has no plans of messing with the retailer's popular $1.50 hot dog combo special, in place since 1985.
Costco earlier in the year cracked down on who uses it food court to ensure only members can get the discounted wiener-and-soda deal.
The company operates 882 warehouses, including 609 in the United States and Puerto Rico.
Kate Gibson is a reporter for CBS MoneyWatch in New York, where she covers business and consumer finance.
2025-05-01 05:461850 view
2025-05-01 05:231992 view
2025-05-01 04:56790 view
2025-05-01 04:231922 view
2025-05-01 04:081367 view
2025-05-01 03:29359 view
Federal authorities announced hackers in China have stolen "customer call records data" of an unknow
Treasury Secretary Janet Yellen says the government won't have enough money to pay all of its bills
As a professor and climate scientist in the Department of Earth and Planetary Sciences at Johns Hopk
