Food - Drink
Costco Has Good News About Its Membership Fees
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.