COST - Costco Just Did Something It Hasn't Done in 7 Years. Here's How It Could Boost the Stock.
2024-07-11 11:23:43 ET
It's been the top question from the analyst community for some time already. But on July 10, warehouse-style retail chain Costco Wholesale (NASDAQ: COST) finally made a highly anticipated announcement: Membership fees are going up, starting on Sept. 1.
In May, Costco's new CFO Gary Millerchip pointed out that it's historically raised prices for its memberships every five years. But the last time the retail giant raised its membership prices was back in June 2017, which has now been seven years. This behind-schedule price increase is why analysts have peppered management with questions on this subject in recent earnings calls .
Of course, analysts weren't asking about this anticipated move merely because Costco was behind schedule. They were really asking about it because it's something that can boost the stock. Here's what investors need to know.
For further details see:
Costco Just Did Something It Hasn't Done in 7 Years. Here's How It Could Boost the Stock.