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☆ Jim Cramer: Costco's membership fee hike actually signals good news for inflation
▼ + stars: | 2024-07-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Thursday that Costco 's membership fee hike suggests inflation is becoming more manageable for consumers. The fee increase "is significant because management said it wasn't going to raise its membership fee until they saw inflation under control," Cramer said on " Squawk on the Street ." Costco late Wednesday announced its long-awaited membership fee increase — the first since 2017. The membership fee hike has been a second catalyst the Club has been waiting for. Profits from the fee increase will go into the bottom line while some will be reinvested in the business.

Persons: CNBC's Jim Cramer, Cramer, — Organizations: Costco, Gold, CNBC, Management Locations: U.S, Canada

☆ Buy Costco stock as shares are poised to rally 10% after the company raises membership fees for the first time since 2017
▼ + stars: | 2024-07-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Costco stock has 10% upside after raising its annual membership fees for the first time since 2017, according to Bank of America. Costco stock has been on a tear, rising 35% year-to-date, nearly double the S&P 500's 18% rise. Costco's annual membership fee will jump $5 to $65 for its Gold Star and Business memberships, while its Executive membership fee will increase by $10 to $130. Goldman estimates that Costco's fee increase will add about $400 million to membership fee income over the next two years. On top of the fee increase, Costco also announced June sales data, which saw same-store-sales jump 6.9% on a year-over-year basis to $24.48 billion.

Persons: —, Goldman Sachs Organizations: Costco, Bank of America, Service, Star, Costco's, Goldman Locations: Thursday's

☆ Costco Raises Membership Fees for First Time in 7 Years
▼ + stars: | 2024-07-11 | by ( Hank Sanders | ) www.nytimes.com time to read: +1 min

Costco is increasing its annual fee for members by more than 8 percent in the United States and Canada, the first increase in seven years, the company announced on Wednesday. Beginning Sept. 1, the fee for customers who shop at Costco Wholesale stores will increase by $5 to $65 annually for the basic Gold Star Membership and by $10 to $130 annually for customers with the Executive Membership. “The fee increases will impact about 52 million paid memberships, a little over half of which are Executive,” a spokesman for Costco, the Washington State-based membership wholesale retail store, said in a statement. “As a reminder, we last raised our membership fees in the U.S. and Canada in June 2017.”The announcement did not specify whether people who purchase annual memberships before Sept. 1 will see a charge for the difference or if they can enjoy the lower price until they pay for a second year in 2025. Costco did not immediately respond to requests for comment on Thursday.

Persons: ” Organizations: Costco, Costco Wholesale, Washington State Locations: United States, Canada, U.S

☆ Here's why the cooler consumer inflation we wanted flipped the stock market on its head
▼ + stars: | 2024-07-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

It also gave investors the green light to rotate out of this year's tech winners and into rate-sensitive stocks. In other words, we're right back to the market expecting as many as three cuts by the end of the year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, toolmaker Stanley Black, Decker, Jim, Price, That's, We've, we've, Jim Cramer's, Eric Thayer Organizations: Federal Reserve, CNBC, PPI, Walmart, Costco, PepsiCo, CPI, U.S, Nasdaq, Jim Cramer's Charitable, Aldi, Bloomberg, Getty Locations: Alhambra , California

☆ Costco membership fees are going up for the first time since 2017
▼ + stars: | 2024-07-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —It’s soon going to cost more money to get your foot in the door at Costco. The retailer is raising membership fees by $5 to $65 a year in the US and Canada, Costco announced Wednesday. This marks the first time in seven years Costco is raising membership fees. The company estimated that 52 million memberships will be impacted, a little over half of which are Executive members, Costco said. Last year, Costco earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.

Persons: New York CNN — It’s Organizations: New, New York CNN, Costco, Sam’s Club, Amazon Locations: New York, Canada

☆ Costco's hourly workers are getting a raise — read the CEO's memo
▼ + stars: | 2024-07-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco hourly workers in the US, Puerto Rico, and Canada are getting raises later this month. Pay at both ends of the scale will increase by $1 per hour, CEO Ron Vachris said in a memo obtained by BI. The raise follows several increases in recent years as Costco tries to stay competitive on wages. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Ron Vachris, — Organizations: BI, Costco, Service, Business Locations: Puerto Rico, Canada

☆ Costco hikes membership fee for the first time since 2017
▼ + stars: | 2024-07-10 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. Costco said the fee increases would affect about 52 million memberships, a little over half of which are executive memberships. Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Its rival, Walmart- owned Sam's Club, hiked its own membership fee in 2022 for the first time in nine years. At BJ's Wholesale, annual membership fees are $55 and $110, for club members and its own higher tier, respectively.

Persons: Craig Jelinek, Richard Galanti Organizations: Costco, CNBC, Walmart, Sam's Club, Wholesale, Netflix Locations: U.S, Canada

☆ Stocks making the biggest moves after hours: WD-40 Company, Costco and more
▼ + stars: | 2024-07-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines after the bell : WD-40 Company — Shares gained 11% after the maker of metal lubricants reported fiscal third-quarter results that beat analysts' expectations. WD-40 posted earnings of $1.46 per share on revenue of $155 million, higher than the earnings of $1.39 per share on revenue of $145.8 million analysts were expecting, according to FactSet. PriceSmart — The membership warehouse club operator added 6% after posting a fiscal third-quarter earnings and revenue beat. Costco Wholesale — Shares gained 3% after the membership-only retail chain announced its first membership rate increase since 2017. The Costco Wholesale Corp. logo is displayed above a gas station in Hawthorne, California, on June 12, 2024.

Persons: PriceSmart, FactSet, Patrick T, Fallon Organizations: Costco, Semiconductor, Technology, Costco Wholesale Corp, Afp, Getty Locations: Hawthorne , California

☆ Stocks extend their winning streak, Apple pops and the PC recovery continues
▼ + stars: | 2024-07-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

PC recovery continues: We received two positive data points over the past two days confirming the PC recovery cycle is on track. On Tuesday IDC said the traditional PC market grew 3% in the second quarter, marking its second quarter of growth after seven straight quarters of decline. Gartner said Wednesday that worldwide PC shipments increased 1.9% in the second quarter, making it three straight quarters of year-over-year growth, according to its data. Apple pops : Apple extended its record-high streak after Bloomberg reported the company has told suppliers and partners it expects 10% growth in shipments of its new iPhone 16 this year compared with the 15 models in 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jerome Powell, Powell, Gartner, Mikako Kitagawa, we've, We'll, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Financial Services Committee, IDC, Gartner, Bloomberg, Apple Intelligence, Apple, Costco, PepsiCo, Delta Air Lines, Jim Cramer's Charitable, Visual China, Getty Locations: China, GLP, Nanjing, Jiangsu Province

☆ Costco is raising its membership fee for the first time in 7 years
▼ + stars: | 2024-07-10 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Costco said Wednesday that it's raising its annual membership fee. AdvertisementCostco's annual membership fee is getting more expensive. The membership prices are the same amount regardless of currency — a Gold Star membership in Canada runs 60 Canadian dollars, for example. The increase is the first time that Costco has raised its membership fee since 2017. In May, Costco CFO Gary Millerchip said that a fee increase would happen at some point, adding that it was a question "of when we increase the fee, rather than if we increase the fee."

Persons: —, Gary Millerchip Organizations: Costco, Service, Star, Business Locations: Canada

Traders work on the floor at the New York Stock Exchange on June 14, 2024. U.S. stock futures were little changed Wednesday night after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1%, as did Nasdaq 100 futures . These moves come before a key inflation report due to be released Thursday morning, which could help solidify expectations for a rate cut in September. "Any upside surprises in inflation are going to be downside surprises for markets.

Persons: Dow Jones, Mike Bailey Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Costco Wholesale, Dow, FBB Capital Partners, PepsiCo, Delta Air Lines

☆ Jim Cramer: Investors should start thinking about Walmart as an e-commerce company
▼ + stars: | 2024-07-10 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

Walmart may be the first traditional retailer to truly transform into a booming e-commerce business, CNBC's Jim Cramer said Wednesday. "Walmart is no longer just a brick-and-mortar company," Cramer said on " Squawk on the Street ." "We're going to begin to think of this company as an e-commerce company." However, Cramer said Wednesday that Costco's e-commerce is not headed for the same kind of growth as Walmart's effort. COST YTD mountain Costco YTD Shares of Costco and Walmart have been breaking out, with both stocks ironically rallying roughly 33% year to year.

Persons: CNBC's Jim Cramer, Cramer, Piper Sandler, Piper, That's Organizations: Walmart, CNBC, Costco, Amazon Locations: U.S

REUTERS/Tom Bateman/File Photo Purchase Licensing Rights New Tab , opens new tabJuly 10 (Reuters) - Costco Wholesale (COST.O) New Tab , opens new tab said on Wednesday it would hike annual membership fees for the first time in seven years for its U.S. and Canada customers, effective Sept. 1. Costco said the maximum annual 2% reward associated with executive membership will also increase to $1,250 from $1,000. "The market has been expecting (discussion of) a membership fee hike for a couple years ... management historically tends to raise membership rates every 5 to 6 years," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors. For fiscal 2023, membership fee revenue accounted for 1.9% of the company's total revenue. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Bateman, Costco, Michael Ashley Schulman, Schulman, Granth, Mohammed Safi Shamsi Organizations: Costco, REUTERS, Costco Wholesale, Running, Capital Advisors, Thomson Locations: Meiwa, Gunma Prefecture, Japan, Canada, Bengaluru

“My cart looks ridiculous,” said Ms. Uhuru, 48, who supplements her hauls with vegetables grown in her garden. “People think I am a shift shopper.” Sylvia Jarrus for The New York Times, including previous image. Sawyer’s April Shopping Total shopping trips: 14 Impulse purchases: Castelvetrano olives ($5.99) and sparkling water (prices vary) Share of drinkable purchases: 70 percent What might a stranger notice if she peered into Sawyer Bonsib’s cart? “The old adage ‘Don’t go grocery shopping when you are hungry,’ applies triply during Ramadan,” he said. “Or my toddler will gnaw on a tortilla while I’m making dinner.” Jessica Attie for The New York Times, including previous image.

Persons: —, creamer, Jackie Kesterson, haven’t, ”, “, Kesterson, Rebecca Gratz, Kimberly Uhuru Detroit, Kimberly Uhuru, Uhuru, ” Sylvia Jarrus, Sawyer, Mr, Bonsib, Alcoholics Anonymous, isn’t, ” Will Newton, pita —, Pecorino Romano, pistachios, Ayse Gilbert, Gilbert, She’s, ” Kerry Tasker, Sonal Singh, Singh, Carolyn Fong, Bingahlan, Abdul Bingahlan, chiles, We’re, Bingahalan, ‘, Brittainy Newman, Amy O’Neill Houck, ” — Mindy Huskins, — Naeman Mahmood, ” — Martha Goff, Gabby Cavazos Austin, Gabby Cavazos, Cavazos, ” Jessica Attie, Young, Alan Young, . Young, Croix seltzer Organizations: THE, Amazon Grocery, Vee, The New York Times, Walmart, Alcoholics, Costco, Gilbert Anchorage, University of Georgia, Mart, chiles, Atlanta, Emory, Coordinating, Foods, Assistance, SNAP Locations: United States, romaine, Jackie Kesterson Omaha, Rosedale Park, Target, Croix, Waterloo, Malvern, Ark, Gilbert, Alaska, Anchorage, Carmel , Calif, California, Sonal Singh Foster City, Calif, India, Foster City, Bingahlan New York City, Cordova , Alaska, Newark, Del, Atlanta, Sacramento, Gabby Cavazos Austin , Texas, Texas, Young Hilo, Hawaii

☆ I tried vanilla ice cream from Costco, Whole Foods, Wegmans, and Trader Joe's. From now on, the winner will always be in my freezer.
▼ + stars: | 2024-07-09 | by ( Ted Berg | ) www.businessinsider.com time to read: +1 min

I tried vanilla ice cream from Whole Foods, Wegmans, Trader Joe's, and Costco to find the best one. The 365 vanilla ice cream from Whole Foods was tasty, but nothing about it stood out to me. Costco's Kirkland Signature vanilla ice cream, which had a great flavor and texture, was my winner. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But with practically every supermarket offering its own house brand of ice cream, there seems to be countless options out there.

Persons: Joe's, Costco's Kirkland, — Organizations: Foods, Costco, Service, muggy New, Business Locations: muggy New York City

☆ Why our stocks tied to AI and dependent on housing are rallying in a mixed market
▼ + stars: | 2024-07-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Monday market: Stocks were mixed with the S & P 500 and Nasdaq hovering around their all-time highs and the Dow off slightly. Last week's rally was driven by the Magnificent Seven stocks, with Club names Apple , Amazon , Alphabet , Meta Platforms , and Microsoft closing at highs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Corning, Stanley Black, Decker, —, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow, Apple, Microsoft, Nvidia, Broadcom, Dell, Devon Energy, Grayson, Energy, Costco, Telsey, Jim Cramer's Charitable Locations: Meta, Lowe's, Whirlpool, Williams, Sonoma, Williston, Devon

☆ Stop worrying and learn to love the triumph of Big Tech over everything
▼ + stars: | 2024-07-07 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

We don't say they have a secular wind at their backs. We don't say: Apple's business is much better than we thought. They keep coming back to one main point: You can't have these companies dominate without something bad happening to the stock market. Let me present a different, factual manifesto: The companies with these amazing gains are companies that just don't stop inventing. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eli Lilly, Joe Biden, Biden, Lilly, —, Tesla, Elon Musk, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Microsoft, Apple, Nvidia, Nasdaq, pharma, Novo Nordisk, National Football League, YouTube, Web Services, Costco, Walmart, Jim Cramer's Charitable, CNBC, Facebook, Google Locations: Lilly

☆ Gen Z's latest hot club is Costco
▼ + stars: | 2024-07-05 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewOne of Gen Z's biggest tools for fighting persistently high food prices: Sharing a big cart of groceries — and potentially a membership card — from Costco or Sam's Club with roommates or family. Costco and Sam's Club might be happy for the new customers, but they're likely less eager about those who share membership cards to make the purchases. Wholesale retailers like Costco and Sam's Club have long appealed to consumers who shop for big families or parties. But some single people say a Costco membership makes sense for them thanks to benefits like savings on gas. Are you a shopper or employee at Costco or Sam's Club with a story idea to share?

Persons: —, Z, Devak Nanda, Nanda, abitter@businessinsider.com Organizations: Service, Costco, Sam's, Wall Street, Business, Sam's Club, Walmart, of Illinois, Champaign, Devak Locations: of Illinois Urbana

☆ Costco had 100-gram gold bars for $7,600. They sold out in less than a day.
▼ + stars: | 2024-07-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco's largest gold product is a 100-gram bar from PAMP Suisse that last sold for $7,599.99. The jumbo-sized bar was briefly available this week, but sold out in less than a day. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Look no further than this week's sell-off of the company's largest gold product: 100-gram bars of 24-karat gold from PAMP Suisse that last sold for $7,599.99.

Persons: — Organizations: PAMP Suisse, Service, Costco, Business

☆ As heat levels climb, so do power bills. Here’s how you can keep costs down
▼ + stars: | 2024-07-04 | by ( Erika Tulfo | ) edition.cnn.com time to read: +5 min

But on the tail of a record-breaking heatwave that swept the Midwest and Northeast, she’s finding it difficult to keep costs down. Americans’ power bills are expected to soar this summer, as heat waves have already begun baking parts of the country. But keeping your AC off when you’re not home may actually result in higher bills later on. In an aerial view, high voltage power lines run along the electrical power grid on May 16, 2024, in West Palm Beach, Florida. A higher rating indicates lower energy consumption levels and, in turn, lower costs of cooling.

Persons: Emma Corrado, “, ”, Corrado, Annie Carforo, Carforo, Anthony Behar, SIPPL, Jamie McShane, Con Edison, ” Carforo, you’re, Mark Wolfe, Wolfe, Joe Raedle, ” McShane, Con, ” Wolfe Organizations: CNN, University of Wisconsin -, WE ACT, Environmental Justice, Costco, Department of Energy, National Energy Assistance, Association Locations: University of Wisconsin - Madison, Midwest, Madison , Wisconsin, York, Queens, New York City, NY, New York, acclimate, West Palm Beach , Florida, Bronx , Brooklyn, Manhattan, Westchester

☆ Costco has changed the packaging of its $4.99 rotisserie chicken — and some shoppers are voicing their annoyance
▼ + stars: | 2024-07-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Costco has gradually been switching the packaging for its rotisserie chicken from trays with lids to plastic bags. "There's just something unappealing about picking up a bagged chicken," a Reddit user wrote. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCostco has been rolling out new the packaging for its coveted $4.99 rotisserie chicken, and some loyal customers aren't impressed with the change. The warehouse chain previously sold the Kirkland Signature chicken on black plastic trays with transparent plastic lids.

Persons: —, aren't Organizations: Costco, Service, Kirkland, Costco Connection, Business Locations: Australia

☆ I compared Sol de Janeiro's $48 Brazilian Bum Bum Cream to the Costco dupe. The latter is ⅓ of the price, and I prefer it.
▼ + stars: | 2024-07-01 | by ( Meredith Schneider | ) www.businessinsider.com time to read: +1 min

I compared Sol de Janeiro's $48 Brazilian Bum Bum Cream with Nutrius' $22 dupe sold at Costco. The Nutrius brand from Costco was budget-friendly and more comfortable for all-day wear. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSol de Janeiro has built its identity around its famous Brazilian Bum Bum Cream, which claims to firm and tighten skin over time. This story is available exclusively to Business Insider subscribers.

Persons: Sol, Janeiro's, —, Heela Yang Organizations: Costco, Service, Business Locations: Janeiro

☆ 33-year-old pays $2,146/month for 556-square-foot studio in California furnished 'almost entirely with Costco': Take a look inside
▼ + stars: | 2024-06-30 | by ( Claudia Chee | ) www.cnbc.com time to read: +6 min

Photo: Bart Vandever for CNBC Make ItWhy Costco means so much to meCostco was a shopping staple for my family when I was growing up. Photo: Bart Vandever for CNBC Make ItI like to lie on my couch and lose myself in classical music on my piano. Photo: Bart Vandever for CNBC Make ItIn woven side baskets, I stash my Costco pajamas, keeping everything neat and organized. An outdoor space with possibility The outdoor space isn't fully furnished yet. I'm very excited to use my outdoor space and my paddle board this summer.

Persons: Bart Vandever, Costco, Costco Claudia, I've, they've, I'm Organizations: Costco, CNBC, Kirkland Locations: San Francisco Bay, Fremont , California

☆ I bought all my furniture at Costco for $5,000: Take a look inside
▼ + stars: | 2024-06-30 | by ( Nina Zipkin | Raffi Paul | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI bought all my furniture at Costco for $5,000: Take a look insideClaudia Chee, 32, has a love for all things Costco. She's furnishing her new apartment with items from the store. She created the Instagram account @CostcoClaudia, where she models clothing and shares her experiences. She earns about $7,000 a month as an influencer, as well as around $5,000 a month from her job as a piano teacher. 07:17 an hour ago

Persons: Claudia Chee Organizations: Costco

☆ I pay for Costco's $120 executive membership even though I only shop for 2. Here are some of my favorite things to get for easy meals.
▼ + stars: | 2024-06-30 | by ( Dominic Bucca | ) www.businessinsider.com time to read: +1 min

I use my Costco executive membership to pick up easy meal options for my household of two. The Authentic Motor City Pizza Co. deep-dish double-pepperoni pizzas are a delicious, easy dinner. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDespite not having a large family to feed, I've been shopping at Costco for more than 20 years. I pay $120 annually for an executive membership, which comes with a 2% reward of up to $1,000 on qualified Costco purchases.

Persons: Kirkland, —, we're Organizations: Costco, Co, Service, Business

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