Retailer Costco Wholesale Corporation COST announced a membership fee increase Wednesday after market close.
Costco's retail business is massive but it's not the primary money-maker. The company has a huge membership base and world-class renewal rates thanks to offering its customers good bargains.
Costco Wholesale Corporation (NASDAQ:COST) yesterday raised membership prices in North America for the first time since 2017.
Costco's (COST) distinctive membership business model and pricing power set it apart from traditional players. Comparable sales for the retail month of June rise 5.3%.
For the first time since 2017, Costco (NASDAQ: COST ) will raise its membership fees in the U.S. and Canada. The annual cost of the giant retailer's regular membership will climb by $5, while the price of its upper-tier plan will increase by $10 per year.
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Costco has been demonstrating incredible resilience despite inflation. It issued a special dividend in January.
Those looking to get a Costco membership might want to do so before Sept. 1, when the company plans to raise the price for both gold and executive options.
Costco Wholesale Corporation (NASDAQ:COST, ETR:CTO) has announced an increase to its annual fees for its 52 million 'member' customers in US and Canada for the first time since 2017. From the start of September, Gold Star individual and business members will see a $5 hike, while the cost of its higher-tier Executive membership by $10.
The Costco (NASDAQ: COST) stock price continued soaring this week after the company boosted its guidance and hiked its membership prices. It is in its third month of gains and is sitting at its all-time high of $900, giving it a market cap of over $393 billion.
Costco Wholesale (COST) shares rose in extended trading Wednesday after the retailer hiked its membership fees for the first time since 2017 and posted a jump in June sales.
Costco (COST) said it is raising its membership fees for the first time since 2017, sending the retailer's stock higher in extended trading Wednesday.