Costco Confirms Membership Fee Hike Coming, First Increase Since 2017

Costco executive leadership confirmed a membership fee hike is coming, but timing and amount are still unknown. Last increase was in 2017.
Costco typically raises fees every 5 years. Current gap is "a little longer" than usual between hikes.
Just under 119 million people globally paid for Costco membership in 2022. Number of cardholders growing steadily.
Costco says added member value will come with increase, like updated app with gas prices and inventory.
Costco also recently announced offering members medical care access, including $29 virtual visits. joins retailers like Walmart and Amazon expanding into healthcare.

marketwatch.com

Relevant topic timeline:

8/29/2023

One part of China’s consumer market is holding up against a broad slowdown

Costco stores in China are experiencing high foot traffic and strong sales, contrasting with slower retail sales growth in the country, as foreign brands continue to expand and target the premium market. However, economic uncertainty and a decline in ad spending raise concerns about China's future growth.

9/8/2023

Costco's Global Expansion Reaches 859 Stores Worldwide, But U.S. Remains Company's Biggest Market

Costco is a global retail chain with 859 locations worldwide, with the majority of stores in the U.S., Canada, Mexico, and Japan, and is expanding in countries like China, Sweden, and New Zealand.

9/23/2023

Costco Membership Pays for Itself Through Exclusive Travel Deals, Appliance Savings, and Everyday Low Prices

Costco offers several deals and perks that can easily cover the cost of membership, such as booking cruises, purchasing large appliances, saving on home insurance, buying discounted vacuum cleaners, and enjoying inexpensive hot dogs and soda.

9/25/2023

Costco's Value Proposition Drives Sales Growth Amid Inflation Worries

Wholesale retail giant Costco is expected to win over consumers with its cheap gas prices as it reports quarterly results, with same-store sales growth expected to rise and e-commerce sales predicted to increase by 5%.

9/26/2023

Costco Earnings: Investors Eye Potential Membership Fee Hike As Loyalty Remains Strong

Costco's next quarterly results may not impact its stock, but analysts believe that news of a possible membership fee increase could.

9/27/2023

Costco Earnings Beat Expectations Despite Holding Off on Fee Hike

Costco Wholesale's earnings report receives positive feedback from Wall Street analysts despite initial investor concerns about the lack of a membership fee increase.

9/27/2023

Cramer Praises 'Beautiful Quarter' for Costco as Shares Rise on Earnings Beat

Costco's business is strong with decreasing inflation and minimal inventory losses, leading to a rise in its stock's year-to-date gains and increased price targets from Wall Street firms.

9/27/2023

Costco Sees Surge in Younger Members Despite Less Spending

Costco CEO Craig Jelinek stated that the company is attracting more young people to its membership base, although their purchasing power is initially lower compared to older generations.

9/27/2023

Costco's New Gold Bars Flying Off Virtual Shelves Despite High Price Tag

Costco's CFO, Richard Galanti, revealed that the retailer's one-ounce gold bars have been consistently selling out within a few hours of being listed on the website, with a limit of two per member, and customers lucky enough to purchase the item can also earn 2% cash back if they have an executive membership card.

9/28/2023

Costco to Raise Membership Fees for First Time Since 2017

Costco is considering raising its annual membership fees, which could impact the 130 million shoppers at its 591 stores across the country.

10/9/2023

Costco's Winning Strategy of Value and Loyalty Drives Steady Growth, But High Valuation Raises Some Concerns

Costco Wholesale is a high-quality company with a high valuation, but its business model, strong performance, and potential for growth make it a compelling investment choice despite its high price.