Costco Hiking Membership Fees In June

Costco Hiking Membership Fees In June

Costco is hiking its membership fees. On Thursday the wholesale retail store said they would increase its Goldstar membership fee by $5, from $55 to $60. Executive membership fees will increase by $10 to $120. The new fees will go into effect this year in June.

Fortune reports the hike was expected by some Wall Street experts since Costco's 86.7 million cardholders spent $2.6 billion on membership fees, which amounts to about three-quarters of its operating income.

The Street reports in September Costco raised its membership fees by 10% in other countries.

Executive members do receive a higher cap on the amount of reward gift certificates they can receive in a year.

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