New York CNN —Costco customers are now paying more for their annual memberships for the first time since 2017.
The price of Costco’s premium “Executive Membership” also went up, by $10 to $130 a year.
The company estimated that 52 million memberships will be impacted, a little over half of which are Executive members, Costco previously said.
Last year, Costco earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.
Costco (COST) is cracking down on membership moochers by implementing stricter policies and requiring shoppers to scan their membership cards to enter stores.
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