Today's Video Headlines: 7/10/24
Costco Wholesale said Wednesday it would hike annual membership fees for the first time in seven years for its US and Canada customers, effective Sept. 1., including testing of free samples, discounts on food, gas, home insurance, travel and grocery items and an annual 2% reward on qualified purchases at its warehouses.
The annual fee, last raised in June 2017, would increase by $5 to $65 for “gold star” and business members and to $130 from the earlier $120 for executive members.Costco said the maximum annual 2% reward associated with executive membership will also increase to $1,250 from $1,000. Fast food franchise owners slash hours, jobs to offset labor costs from California's new $20 minimum wage
Revenues from membership fees had increased about 7.6% in the third quarter ended May 12. For fiscal 2023, membership fee revenue accounted for 1.9% of the company’s total revenue.
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