Maintaining or buying a membership for Costco will soon become more costly, as the bulk retailer announced Wednesday its membership fees will increase at the start of September, in its first price hike since 2017.
The change goes into effect Sept. 1. (Photo by Toby Scott/SOPA Images/LightRocket via Getty Images)
Costco’s Gold Star Membership and Business Membership will jump from $60 to $65 per year in less than two months, while the Executive Membership fees will increase from $120 to $130 per year.
The cap for the annual 2% reward for certain purchases held by Executive Membership shoppers will increase from $1,000 to $1,250 as part of the price hike.
Costco shares climbed more than 2% in after-hours trading after closing down a fraction of a percent at $884.31.
This is a developing story. Check back for updates.