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Costco answers whether it is raising membership fee: 'Question of when, not if'
Former teacher who quit her job to start new career at Costco says ‘everything is better’
Following her viral TikTok, a former teacher and now Costco employee Maggie Perkins joined ‘Varney & Co.’ to break down her decision to leave her career in education.
Costco is certain to raise its membership fees in the future, but as the sixth anniversary of the last fee hike approaches, the company says there are no immediate plans to do so while membership rates are at all-time highs.
"In our view, it's a question of when, not if," Costco CFO Richard Galanti told investors on a Q2 earnings call on Thursday.
Galanti acknowledged that June would mark six years since the Washington-based retail giant last raised the price of its Gold Star membership, which currently costs $60. He said that Costco typically raises its membership fee every five years and seven months, on average. Costco last increased its membership prices in June 2017.