(NEXSTAR) – Hot dogs are still $1.50 at Costco, but a membership got a little more expensive on Sunday.
For the first time since 2017, the warehouse membership club raised the annual fees of U.S. and Canada Gold Star and Business members by $5, to $65.
A price hike also went into effect Sept. 1 for Executive members, who will now pay $130 instead of $120 each year. Executive members, who get a 2% annual reward, can now receive up to $1,250, instead of the prior maximum of $1,000.
Costco announced plans for the cost increase in July, saying that it would be raising membership fees in a move to “offset many of our operating costs and price our merchandise lower,” according to the Issaquah, Washington company’s website. “Your membership provides access to our tremendous buying power, which results in the lowest possible prices on the items our members want the most.”
Costco’s line of Kirkland Signature products, reputation for quality goods, beloved food court and free samples have endeared it to American shoppers, sending the stock from around $300 in January, 2020 to nearly $880 on Tuesday.
Shoppers have gone so far as to create Costco social media communities devoted to sharing their favorite items, tips, news and deals.
As of early September, Costco operates 882 warehouses, 609 of which are in the United States and Puerto Rico. International warehouse locations can be found in Canada, Mexico, Japan, United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand and Sweden.
