Costco isn't raising member fees even though they're due for a hike

, but a top executive recently said the chain isn't planning to bump the fees — at least not yet anyway.

Consumers have been dealing with enough inflation on their shopping receipts that Costco plans to hold off, for now, on hiking what it charges to be a member. Costco Chief Financial Officer Richard Galanti said last week in an earnings call that the company believed it could likely raise membership prices without significantly hurting its membership numbers, but for a variety of reasons, Costco leadership didn't feel the need to raise the fees immediately.

"At the end of the day, with the headline being inflation, we feel very good about if we want to do it, can we do it without impacting, in any meaningful way, renewal rates or sign-ups or anything," Galanti said during theHe continued:"And at some point, we will. But our view right now is that we've got enough leverage out there to drive business, and we feel that it's incumbent upon us to be that beacon of light to our members in terms of holding them for right now.

The question of how long it will be until Costco raises membership fees has been around for months, as the company nears the six-year mark since the last hike, when prices rose from $55 and $110 to their current $60 and $120. Galanti has made similar comments in recent investor

Health Health Latest News, Health Health Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

It's Not Just the Costco $1.50 Hot Dog Combo—4 Products That Have Beaten InflationWhile inflation has driven up price on many consumer goods over the last two years, prices for items like Planet Fitness’ $10 a month membership have held firm.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Nvidia's founders 'were not good' Denny's customersNvidia's founders came up their trillion-dollar idea while spending hours drinking Denny's coffee and eating Grand Slam breakfasts: 'We were not good customers'
Source: BusinessInsider - 🏆 729. / 51 Read more »

ChatGPT and Generative AI in Media and AdvertisingChatGPT and Generative AI in Media and Advertising: With Use Cases Set, the Battle for Hearts and Minds Begins
Source: BusinessInsider - 🏆 729. / 51 Read more »

ChatGPT and Generative AI in Financial Services: How to PrepareInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »