Costco Raises Membership Fees in U.S. and Canada Effective September 1

Jul 10, 2024, 08:57 PM

Costco Wholesale Corporation has announced an increase in its membership fees for the first time since 2017. Effective September 1, 2024, the annual fee for Gold Star and Business memberships in the U.S. and Canada will rise by $5 to $65, while the Executive membership fee will increase by $10 to $130. Additionally, the maximum annual 2% reward associated with the Executive Membership will be raised from $1,000 to $1,250. The fee hike is expected to impact around 52 million memberships. Following the announcement, Costco shares jumped 2.9% in after-hours trading. The company also reported June net sales of $24.48 billion, a 7.4% increase from the previous year, and year-to-date sales of $210.55 billion, up 6.9% from last year. June comp sales rose 5.3%.