headquartered in Issaquah, is raising its annual fee Nov. 1, according to the Puget Sound Business Journal. The annual fee will be $55 per year for Goldstar (individual), business, business add-on and Canada Business members. In addition, the maximum two percent reward associated with executive membership will increase to $750; it was $500, according to a statement on Costco’s website.
Costco announced its fourth-quarter sales rose to “$27.59 billion, an increase of 17 percent from $23.59 billion in the 16-week fourth quarter of fiscal 2010 ended August 29, 2010. This year's 16-week period included sales from the Company's Mexico joint venture; otherwise the increase would have been 14 percent. Net sales for the 52-week fiscal year 2011 were $87.05 billion, an increase of 14 percent from $76.25 billion last year; excluding Mexico sales, the increase would have been 11 percent.”
The question is, with the company’s sales up, will members be willing to pay an increased fee?