Is inflationary pressure easing for American consumers? Costco has raised membership fees for the first time in seven years
123458005
发表于 2024-7-11 14:16:21
1188
0
0
The loyal consumers of Costco, a large membership warehouse supermarket in the United States, have just received bad news.
Costco announced on Wednesday that starting from September 1st, the annual basic membership fee for the United States and Canada will be increased by $5, from $60 to $65. The annual fee for higher-level "administrative members" will increase from $120 to $130. The average increase is about 8%.
Costco stated that this move will affect approximately 52 million members, of which more than half are administrative members.
Although the annual membership fee for Costco will be higher, the good news is that the most popular hot dog package among consumers will still be priced at $1.50.
Affected by the increase in membership fees, Costco's stock price rose by about 2% in post market trading on Wednesday. As of Wednesday's close, the stock has risen nearly 36% this year, surpassing the S&P 500 index.
On Wednesday, Costco also announced that its net sales increased by 7.4% compared to the same period last year in the five weeks ending July 7th.
Costco operates 882 large retail stores, of which 609 are located in the United States and Puerto Rico, and 108 are located in Canada.
Membership fees have always been one of Costco's largest sources of profit, with membership fee revenue of approximately $4.6 billion last year, an 8% increase from 2022.
It's time to raise the membership fee
This is the first time Costco has raised its membership fee since June 2017. On average, Costco increases its annual membership fee approximately every five and a half years, and this adjustment has been 7 years since the last increase in membership fees.
Part of the reason why Costco has temporarily suspended the increase in membership fees is related to inflation. In the past few years, American consumers have faced the problem of skyrocketing prices, and the growth rate has begun to slow down.
Costco CEO Craig Jelinek previously stated that it is not the right time to raise membership fees as consumers are dealing with high inflation. The company's Chief Financial Officer, Richard Galanti, also made similar comments during a previous earnings conference call.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Berkshire Hathaway sold approximately 24.7 million shares of Bank of America common stock between August 23 and August 27
- The US Department of Commerce plans to allocate $50 million to HP to support the expansion and renovation of HP facilities
- Negative news suddenly spreads in the US retail industry! The veteran giant must win lottery has plummeted by over 30%!
- Deutsche Bank raises US bank rating to buy target price of $45
- Harris also opposes it! Nippon Steel's acquisition of US steel case hit hard again
- Suddenly! The US Securities and Exchange Commission is taking action! Several well-known rating agencies have been fined
- Foreign media: ASML CEO says US restrictions on the company's exports to China are more 'economically motivated'
- ASML CEO says US restrictions on the company's exports to China are more 'economically motivated'
- The Boeing "Starliner" spacecraft from the United States returns to Earth without carrying any passengers
- US regulatory authorities approve BlackRock's $12.5 billion acquisition of Global Infrastructure Partnership
-
9月5日、蔚来は2024年第2四半期の財政報告を発表し、第2四半期の売上高は174億5000万元で、前年同期比98.9%増加した。今年第2四半期、蔚来は累計5万7400台の新車を納入した。 財報の発表当日、資本市場で前向きなフ ...
- 就放荡不羁就h
- 前天 12:39
- 支持
- 反对
- 回复
- 收藏
-
小鵬自動車の新車種MONA M 03は肇慶基地で順調に量産され、工事中の瑞慶時代二工場は年内に操業を開始する予定で、広州データ取引所(肇慶)サービス基地は看板を掲げて運営している……実体経済であれ、デジタル経 ...
- slim
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
JPモルガン・チェース首席米経済学者マイケル・フェローリ(Michael Feroli)氏は最近、FRBは9月の会議で金利を50ベーシスポイント引き下げなければならないと述べた。 現地時間の木曜日(9月5日)、フェリリ氏はメ ...
- 不正经的工程师
- 前天 21:44
- 支持
- 反对
- 回复
- 收藏
-
【クアルコムCEO:サムスンとグーグルと協力してハイブリッド現実眼鏡を開発中】クアルコムのクリスティア・アモン最高経営責任者は、クアルコムがサムスンとグーグルと協力してスマートフォンにつながるハイブリッ ...
- 寒郁轩良
- 前天 10:33
- 支持
- 反对
- 回复
- 收藏