Costco has been hinting at a membership fee increase for almost a year, but customers will have to wait to find out when.
In Costco's latest quarterly earnings call on Dec. 14, an investor asked CFO Richard Galanti about membership cost increases. He said a rise isn't coming
Galanti has repeated that statement multiple times in the past year as investors and members speculate about the warehouse club's next fee
increase. Historically, Costco membership fees should rise. The corporation has raised costs every five years and seven months. The
most recent fee hike was in June 2017, when Costco raised the Gold Star Membership from $55 to $60 and the Executive Membership from
$110 to $120. Costco members would have paid more in January if it had kept its pattern.
Galanti said on this week's earnings call that Costco had waited longer than typical for a charge rise but "haven't needed to do it" yet.
"We like offering great value. We feel we've added value to the membership despite taking longer than typical to raise rates."
Since Costco had a good quarter, it makes natural that it is not rushing to raise fees. Costco exceeded quarterly sales and profit projections and saw US
Galanti said renewal rates, new signups, and member loyalty are "strong." Costco completed the quarter with 72 million paid household members, 7.6%