Costco shoppers will be paying higher membership fees. The second largest U.S. retailer announced today it will raise the price of its Gold Star membership by five dollars to 60 dollars per year, and its Executive membership will go up ten dollars to 120 dollars a year.
Costco's last fee increase was in 2011. This latest price hike goes into effect June 1st.
The move comes as Costco announced profit and revenues for the second fiscal quarter that fell below analysts expectations.