If you love Costco, here’s some good news. The CFO says that they are holding off on raising membership fees.
According to CFO Richard Galanti, the fee hike is coming, but not soon. News Nation Now says Costco plans to raise its membership fees but not just yet.
Both paid household members and cardholder totals have increased by nearly 7% over the last year, but Galanti revealed that shoppers have been purchasing less beef and steaks in recent months, leading to fears of a recession.
Last year, competitor Sam’s Club raised its membership fee. For now, it’s unclear when Costco will raise its membership fee. When asked, Galanti said, “we’ll let you know.” Costco last raised its membership fee in 2017.
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