Costco beat Wall Street estimates for quarterly revenue and profit on Thursday. Consumers returning to its stores bought more groceries and splurged on high-margin items such as jewelry and home furnishing goods. Costco sales rely on customers seeking a treasure-hunt shopping experience at its cavernous warehouses, have benefited following the rollout of vaccines and the easing of COVID-19 curbs.
Even with the reopening of restaurants and outdoor eateries, consumers have retained pandemic-induced cooking habits and eating more at home, bolstering sales at retailers including Costco and Kroger Co. In recent months, there has been strong demand for high-margin items as social events and travel have resumed, boosting sales at retailers.
The last time Amazon raised membership fees was in 2018. Costco currently has two types of members: Gold Star membership and Executive membership. The Gold Star membership costs $60 per year and includes two cards per household, and gives you access to all clubs worldwide as well as online. The Executive membership costs $120, and the main difference is that you can earn 2% back on all qualifying purchases up to $1,000 a year and savings on vacations booked through Costco Travel.