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Costco memberships may cost more this summer
Costco members have to shell out even more money to gain access to coveted items like its in-house rotisserie chicken, Kirkland bacon and big cheese wheels. That five-year mark is coming up this June, according to Costco Chief Financial Officer Richard Galanti, who hinted to investors that another fee increase could hit this summer. "On average, they [membership fee increases] were done about every five — a little over every five and a half years, about five years and seven months," Galanti told investors during the last earnings call. "So five years from the anniversary of the June of '17 would be this June." Galanti did not offer further specifics. In 2017, the company's annual membership fee increase impacted around 35 million members, half of whom were executive members, according to its March 2017 earnings report. At the time, fees increased by $5 for all personal and business memberships in North America.