Photo credit: Playhouse Media
Costco shoppers will soon have to pay more for membership, the company recently announced.
On Wednesday, July 10, 2024, the membership-based warehouse club said that it will raise its membership fees by $5 in the U.S. and Canada starting September 1.
Annual memberships will increase from $60 to $65, while the “Executive Membership” plan will rise from $120 to $130.
The fee hikes will impact approximately 52 million memberships, with a little over half being executive memberships.
Following the announcement, Costco’s shares rose about 2% in extended trading.
This is Costco’s first membership rate increase since June 2017. Historically, the company has raised rates approximately every five and a half years, which would have placed the next increase in late 2022 or early 2023.
In New Orleans, you can find Costco at the following locations: 3900 Dublin St, New Orleans, LA 7011 | (504) 484-5220
These are very exciting times for our business and the fantastic momentum that we generated in 2023 has carried us into the new year,” added Norberg. “We are positioning ourselves to embrace this continued growth and are thrilled to be able to bring our highly craveable and high-quality products to more communities.”
These are very exciting times for our business and the fantastic momentum that we generated in 2023 has carried us into the new year,” added Norberg. “We are positioning ourselves to embrace this continued growth and are thrilled to be able to bring our highly craveable and high-quality products to more communities.”
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