Free Subscription

  • Access 15 free news articles each month


Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Costco US to raise membership fees as profit falls

Costco US will raise its membership fees for the first time since 2011.

The move was announced at the same time as its quarterly results which showed total revenue up to US$29.77 billion, but net profit down 5.7 per cent to $515 million.

Costco Wholesale Corp said its profit took a hit from higher costs.

From June 1, Costco will increase the annual corporate membership fee by $5 to $60 and the executive membership fee will double from $10 to $20.

Same-store sales, excluding petrol and on a constant-currency basis, rose 3 per cent year-on-year.

You have 7 free articles.