Costco is increasing its annual membership fees in Canada and the U.S. this fall.

The company made the announcement as it reported its sales results for June.

Costco says that effective Sept. 1, Canadians holding an individual, business or business add-on membership will see their annual membership fees go up by $5 to $65.

Those with executive memberships will receive a $10 increase to $130, and will also see their maximum annual rewards increased. 

U.S. Costco members will receive the same increases. 

The wholesale retailer says the fee increases will affect around 52 million memberships, a little over half of which are executive memberships. 

This report by The Canadian Press was first published July 10, 2024