Costco Wholesale Corp. is boosting its basic membership fee for the first time since 2017, raising the charge for most memberships to $65 a year from $60.
Jaewon Kang and Brendan Case, Bloomberg NewsCostco Wholesale Corp. is boosting its membership fees for the first time since 2017, raising the charge for a basic membership to US$65 a year from $60.
Investors and analysts have long waited for the Issaquah, Washington-based company to raise its membership price. Costco has typically increased fees every five years or so, prompting analysts in recent quarters to ask about the company’s thinking on the timing. “The company delayed an increase amid consumer concerns about inflation and the economic outlook, which have eased some,” she wrote, adding that she expects renewal rates to stay steady after the increase.
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