Costco currently charges $60 a year for annual memberships and $120 a year for its higher-tier plan, called the Executive Membership. KIRO host Ursula Reutin cited Costco made $4.4 billion in profits from its membership fees in just the past 12 months.
Costco is cracking down on shoppers sharing membership cards after the warehouse retailer announced it will begin doing spot checks at the self-checkout counters to discourage non-members.
A significant piece of Costco’s earnings comes from membership fees, according to the company’s quarterly earnings report. The retailer currently charges $60 a year for annual memberships and $120 a year for its higher-tier plan, called the Executive Membership. KIRO Newsradio host Ursula Reutin cited Costco made $4.4 billion in profits from its membership fees in just the past 12 months.
“Is it stealing when you use somebody else’s loyalty number at the QFC?” Dave Ross, co-host of Seattle’s Morning News, asked.“No, I think that’s just a form of donation,” Ross responded. “Because you’re giving points to whoever else has the number.”
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