Big-box Giant, Costco, has announced that they will be raising membership rates for the first time since 2011. Gold Star Membership will increase from $55 to $60 per year; and their Executive Membership will jump from $110 to $120 per year. Costco generates about 72% of its operating income from membership fees. The fee increases will impact around 35 million members, roughly half of them Executive Members. The price increase will affect customers in both Canada and the United States starting June 1, 2017.
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