For the first time in more than five years, Costco members could see an increase in membership fees.
The company announced Thursday that it plans to raise its annual membership fees to $60, and increase of $5 from the current price.
The fee increase applies to Goldstar, Business and Business add-on members, the company said. Executive memberships will also increase from $110 to $120.
Costco estimates the fee increases, set to take effect June 1, will impact around 35 million members across the U.S. and Canada.
News of the membership increases comes as the company announced its second-quarter earnings were $29.13 billion, up 6 percent from last year.
