ADELAIDE, AUSTRALIA - NOVEMBER 19: A Police vehicle is seen at Costco on November 19, 2020 in Adelaide, Australia. Lockdown Restrictions Take Effect In South Australia As Authorities Work To Contain COVID-19 Cluster Outbreak South Australian premier Steven Marshall has announced new lockdown restrictions across the state for the next six days in response to growing new COVID-19 cases in the community. The new restrictions came into effect at 12:01 on Thursday, with all South Australians required to stay home for the next six days and only able to leave home for essential purposes. People cannot leave their homes to exercise and only one person per household can visit a supermarket per day. All schools are closed except for children of essential workers and vulnerable children while childcare will be open only to essential workers. Aged care and residential disability care is in lockdown. Takeaway food outlets, restaurants, bars, cafes, pubs and other food venues are closed and non-essential business and industry will shut down while weddings and funerals will be banned for six days. The use of face masks or face coverings outside the home are encouraged but not mandatory. (Photo by Roy VanDerVegt/Getty Images)
Food - Drink
Costco Has Good News About Its Membership Fees
By ARIANNA ENDICOTT
Costco Wholesale is known for offering low prices on high-quality products, but to snag these deals, you need to be a card-holding member. The wholesale store has established a pattern of membership price increases every five years, but for fall of 2022, the chain has good news for its millions of members.
Costco's last membership price increase was in 2017, and financial experts predicted another $5 to $10 price increase by August or September of 2022. However, September has now passed, and thanks to a higher-than-expected fourth quarter, Costco has confirmed that they have no plans to increase membership costs at this time.
Costco’s total number of memberships increased during this fortunate quarter, with Executive memberships making up 44%, a record for the chain; the company's total revenue was $72.09 billion. Costco is officially "due" for a membership price increase in 2023, but CFO Richard Galanti says that a price change cannot be confirmed just yet.
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