Current:Home > MarketsThe cost of a Costco membership has officially increased for first time since 2017-LoTradeCoin
The cost of a Costco membership has officially increased for first time since 2017
View Date:2024-12-24 08:47:34
Costco's membership price increase went into effect Sunday, marking the retailer's first increase since 2017.
The company in July announced plans to increase the price of a Costco membership, noting that annual membership fees would increase from $60 to $65 for United States and Canada Gold Star memberships.
Costco also announced that executive memberships would increase from $120 to $130 and the maximum annual 2% reward associated with the executive membership would increase from $1,000 to $1,250.
The fee increases will impact about 52 million memberships. Just over half of those memberships are executive, the company said.
"It has been more than seven years since Costco’s last general membership fee increase," Costco said in a statement to USA TODAY Tuesday afternoon. "Membership fees help to offset costs so we can keep our prices low. A modest increase in fees will allow us to bring our members even greater value."
Costco last raised membership fees in 2017
The Washington-based company reported $210.55 billion in net sales for the first 44 weeks of 2024, up 6.9% from last year and has 882 warehouses in the U.S. and Puerto Rico, Canada, Mexico, Japan and other countries.
The company also has e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.
The last time the company announced membership increases was in 2017, when the retailer began charging another $5 for individual, business and business add-on members in the U.S. and Canada, bringing the cost to $60.
The company also decided in 2017 to increase the cost for executive memberships in the U.S. and Canada from $110 to $120. The increases impacted about 35 million members, according to the Associated Press.
Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Follow her on Twitter at@SaleenMartin or email her at[email protected].
veryGood! (821)
Related
- Darren Criss on why playing a robot in 'Maybe Happy Ending' makes him want to cry
- How a weekly breakfast at grandma's helped students heal from the grief of losing a classmate
- These Sweet Photos of Kendall Jenner and Bad Bunny's Romance Will Have You Saying I Like It
- Gov. Kathy Hochul learns of father's sudden death during emotional trip to Israel
- Trading wands for whisks, new Harry Potter cooking show brings mess and magic
- Shooter gets 23 years to life for ambushing New York City police twice in 12 hours, wounding 2
- Why children of married parents do better, but America is moving the other way
- Kourtney Kardashian’s Husband Travis Barker Shares His Sex Tip
- Surprise bids revive hope for offshore wind in Gulf of Mexico after feds cancel lease sale
- A funeral is set for a slain Detroit synagogue president as police continue to investigate a motive
Ranking
- More than 150 pronghorns hit, killed on Colorado roads as animals sought shelter from snow
- Vanna White Shares Rare Photo With Boyfriend John Donaldson
- This $7 Leave-In Conditioner Gives Me Better Results Than Luxury Haircare Brands
- Sir Bobby Charlton, Manchester United and England soccer great, dies at 86
- Kennesaw State football coach Brian Bohannon steps down after 10 seasons amid first year in FBS
- Michigan State apologizes for 'inappropriate content' after Hitler featured in scoreboard trivia
- A Suspect has been charged in a 1991 killing in Arkansas that closes a cold case
- How Brittany Mahomes, Sophie Turner and Other Stars Earned a Spot on Taylor Swift's Squad
Recommendation
-
Satellite images and documents indicate China working on nuclear propulsion for new aircraft carrier
-
Ex-Philadelphia police officer sentenced to 15 to 40 years after guilty pleas in sex assault cases
-
Kim Kardashian Showcases Red Hot Style as She Celebrates 43rd Birthday With Family and Friends
-
Michigan State shows Hitler’s image on videoboards in pregame quiz before loss to No. 2 Michigan
-
Chris Wallace will leave CNN 3 years after defecting from 'Fox News Sunday'
-
US moves carrier to Middle East following attacks on US forces
-
Vanna White Shares Rare Photo With Boyfriend John Donaldson
-
Murdaugh family home goes on sale for $1.95 million: Photos show Moselle Estate House