Pretty soon it’s going to cost a little more to access Costco’s selection of and . On July 10, Costco its June net sales in a news release — and in addition to reporting a profit increase of more than $1 billion, the wholesaler said it would be raising customer’s membership fees for the first time . Costco says that starting Sept.
1, annual membership fees will go up by $5 for U.S. and Canada Gold Star individual members, Business and Business add-on members, bringing it to an annual fee of $65.
Executive Memberships in the U.S. and Canada will also increase by $10, to $130 — a Primary membership of $65 plus the Executive upgrade of $65 — but the maximum annual 2% Reward afforded to folks with Executive Membership will increase from $1,000 to $1,250.
These fee increases will impact around 52 million memberships, with a little over 50% of them being Executive members. Costco did not immediately respond to TODAY.com’s request for further comment.
Previously, in July 2022, Costco CEO Craig Jelinek that it was holding off on raising fees, citing customers dealing with high inflation as a reason. Then, in Sept. 2023, Richard Galanti, the company’s now-retired chief financial officer, at the time that the increase of Costco membership fees were a “matter of when, not if.
” Costco currently has 882 warehouses around the world, with 609 in the U.S. and Puerto Rico.
There are also 108 Costcos in Canada, 40 in Mexico and 35 or less in Japan, the United Kingdom, Korea.