Costco subscribers may not be very happy: the company's executives have announced that they plan to soon increase the price of annual subscriptions, reports the New York Post, according to information from TVA Nouvelles.
Last Tuesday, during a conference call, Richard Galanti, Chief Administrative Officer and Chief Financial Officer (CFO) of the chain of stores, was asked about a possible increase in the subscription price.
"The question is not whether it will happen, but when it will happen. We will let you know when we know. So stay tuned. We will keep you informed," he announced.
In Canada, the cheapest subscription currently costs $60 per year. However, for the "executive member" card, you have to pay double.
According to KTLA 5, Costco had previously raised its prices in June 2017.
According to Mr. Galanti, the increase had not yet occurred, but it usually happens every five or six years.
While the subscription price is likely to increase soon, this is not yet the case for the hot dog combo, which remains at the same price to attract people.
It is also worth mentioning that few people know that there are two types of Costco and that it is possible to save a lot of money by going to the stores intended for businesses, which are also accessible to regular members.
Three months ago, Costco had also announced another bad news for its subscribers. Like Netflix, the chain of stores had announced that it would no longer allow the sharing of membership cards.
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