The company's CEO spoke about a possible fee increase during Thursday's shareholders meeting.
's a question of when, not if," adding,"I'll be purposefully coy on when that might be."
On Thursday, the company's shareholders gathered online for their annual meeting, and after a lengthly presentation on the company's financial performance, the hot-button issue came up once more."In our opinion, right now is not the right time to do it," said Costco CEO Craig Jelinek, echoing a similar statement he made
."That's not to say that at some point we won't, but at the moment we have no plans to take up the fee."Costco raked in over $4.2 billion in membership fees alone last year, up 9% percent from 2021, according to the company's latest annual report. Raising the yearly fee by another $5 or $10 might not sound like a lot on an individual level, but for a club with over 66 million memberships like Costco, it quickly adds up.
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