By Sabela Ojea


Costco Wholesale is raising its membership fees for the first time since 2017.

The wholesale retailer on Wednesday said that annual fees, it main driver of profit, will rise to $65 from $60 for U.S. and Canada Gold Star, business and business add-on members.

Costco has also raised the price of its executive membership plan to $130 from $120. The reward cap will increase to $1,250 from $1,000.

The annual increases will be effective Sept. 1.

The company, which currently operates 882 warehouses, said the changes will affect around 52 million memberships, a little over half of which are executive.

Costco in the past had increased prices about every five years. The last round of price increases affected about 35 million members.


Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


(END) Dow Jones Newswires

07-10-24 1716ET