Harlem Costcos Raise Membership Price

March 3, 2017

Wholesale retail chain Costco — which operates warehouse stores in East Harlem; Sunset Park, Brooklyn; and Long Island City and Rego Park, Queens — is raising its membership prices this summer, according to a company quarterly report.

The membership-only store announced Thursday that annual fees will increase by $5 for consumers and business memberships. Executive memberships — which offer cash-back rewards — will increase $10.

Costco generally increases membership fees about every five years, with the last increase in 2011. Costco has about 90 million members and operates just more than 500 warehouse stores across the U.S.

The fee increase announcement came with the company’s second quarter report, which showed that net sales increased 6 percent in the quarter to $29.1 billion from $27.5 billion last year.

Here’s Costco’s full statement on the fee increase:

“The Company also announced that, effective June 1, 2017, it will increase annual membership fees by $5 for U.S. and Canada Goldstar (individual), Business, and Business add-on members (‘Primary’ Members). With this increase, all U.S. and Canada Goldstar, Business and Business add-on members will pay an annual fee of $60. Also effective June 1, annual fees for Executive Memberships in the U.S. and Canada will increase from $110 to $120 (Primary membership of $60, plus the Executive upgrade of $60), and the maximum annual 2% reward associated with the Executive Membership will increase from $750 to $1,000. The fee increases will impact around 35 million members, roughly half of them Executive Members.”

Photo by Google Maps street view and via source

By submitting this form, you are consenting to receive marketing emails from: Harlem World Magazine, 2521 1/2 west 42nd street, Los Angeles, CA, 90008, https://www.harlemworldmagazine.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
We're your source for local coverage, we count on your support. SPONSOR US!
Your support is crucial in maintaining a healthy democracy and quality journalism. With your contribution, we can continue to provide engaging news and free access to all.
accepted credit cards

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles