According to Business Week, Costco claims gets about 75% of its income from membership fees.
So, with income under pressure, the company is going to the well and jacking them up.
Costco said it is raising membership fees 10% for about 22 million customers, as the largest U.S. warehouse club operator seeks to offset rising costs.
The fee increase is the company’s first in more than five years.
Currently most members pay an annual fee of either $50 or $100 for executive members
What’s a “seniors’ buffet”, you ask?
Well, Costco is famous for having blue-haired women cooking up and passing out food samples. So many, that legend says that some fixed income oldsters buy the membership just so they can come and graze on the samples.
I’m not into to that, but I am into Costco’s giant hot dog and 16 oz. drink for $1.50.
Tags: Costco, membership fees, Seniors' Buffet
The Homa Files 
October 6, 2011 at 12:36 pm |
That’s what my dad refers to as “lunch at the club”