Joanie Demer, co-founder and co-CEO of The Krazy Coupon Lady, joins TODAY to share supermarket strategies to help save money on groceries.
You’ll soon have to pay more if you want to shop at Costco. The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. That’s an increase to $65 from $60 for annual memberships. Its higher-tier plan, called “Executive Membership,” will increase to $130 a year from $120. Costco said the fee increases would affect around 52 million memberships, a little over half of which are executive memberships.
In interviews with CNBC, CEO Craig Jelinek previously said it wasn’t the right time as consumers dealt with high inflation. The company’s CFO Richard Galanti made similar comments on prior earnings calls. Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Its rival, Walmart-owned Sam’s Club, hiked its own membership fee in 2022 for the first time in nine years.
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