For well over a year, there has been speculation that Costco might hike its annual membership fee. Costco itself acknowledges that an increase is inevitable, but still cannot say when.
During Costco’s latest quarterly earnings call, Richard Galanti, chief financial officer, once again suggested — as he has in the past — that a membership hike is inevitable.
When it comes to a rise in the membership cost, “it’s a question of when, not if,” Galanti said. He noted that the last hike was in June 2017, and emphasized that a six-year period between membership increases is unusually long.
Then, he added:
“We can’t really tell you if it’s in our plans or not. We’ll let you know when we know.”
Costco’s current membership structure is an annual fee of $120 for the Executive level, or $60 for the Gold Star level.
As Galanti noted, Costco last raised fees in June 2017, when it hiked membership costs $10 for the Executive level. The last increase on the Gold Star membership was $5.
In 2022, Costco rival Sam's Club raised its membership fee. It was the first such increase in almost 10 years.
To learn more about memberships at Costco, check out:
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