Costco Increases Membership Fee

Costco Increases Membership Fee

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본문 Costco Increases Membership Fee Shoppers take note: Costco announced this week it is increasing its membership fees by 10 percent starting Nov. 1, just in time for the holiday season. Costco, which operates the largest membership warehouse chain in the country, will increase annual membership fees by $5 for its individual and business members to $55 a year. Fees for "executive members" will increase to $110 from $100, the company said on Wednesday during its fourth quarter earnings announcement. The wholesaler implements a fee increase about every five years or so to keep up with inflation, according to Laura Champine, senior retail analyst with financial services firm Cowen Group. Membership fees account for most Costco's profits, Champine said. For current members, the increase will take place after the membership contract expires. Costco has 592 warehouses around the world, including 429 in the U.S. Retail analysts expected Costco to implement a fee increase in May, but Champine said the wholesaler may have hesitated with the uncertain economy or watched how consumers responded after its competitor, BJ's, increased membership fees. In January, BJ's increased its annual membership fee by $5 to $50. 하고 싶은 말 참고자료로 활용하셔서 좋은 결과 있기를 바랍니다. 키워드 명지대, 과제, 비지니스