SAN FRANCISCO, CALIF. (KRON) — It’s going to cost you a little more to save money by shopping at Costco.
The warehouse retail giant is raising its annual membership fees for the first time in six years.
The cost of a basic “gold star” membership is going up $5, to $60 per year.
The executive membership — which offers extra discounts and rewards on purchases — jumps $10, to $120 dollars per year.
The increases go into effect June first.
The move comes as Costco’s latest earnings report reveals sales and profits were lower than expected.
The company admits it’s dealing with tough competition from rivals such as Sam’s Club and Target.