Recent comments by Costco's CFO suggest a membership price increase may be looming.
Image Credit - Instagram
CFO Richard Galanti stated, "It's a question of when, not if" regarding a possible price hike during the earnings call.
Image Credit - Instagram
The last time Costco raised membership dues was in June 2017, and hikes typically occur every five to six years.
Image Credit - Instagram
Galanti mentioned that while an increase is inevitable, the timing isn't right yet, and plans remain uncertain.
Image Credit - Instagram
Currently, the Gold Star membership costs $60, while the Executive Membership is $120.
Image Credit - Instagram
In the last quarter, Costco generated approximately $1.5 billion in membership income.
Image Credit - Instagram
The company has been cracking down on unauthorized card-sharing among shoppers recently.
Image Credit - Instagram
While no official policy changes have been made, employees are more frequently checking membership ID photos.
Image Credit - Instagram
Costco emphasized the importance of membership fees in keeping prices low for members.
Image Credit - Instagram
With over 127 million cardholders, Costco remains committed to enhancing member benefits and values.
Image Credit - Instagram