Costco Reports Revenue Miss Amid Membership Fee Hike and Price Reductions

Despite raising membership fees for the first time in seven years, Costco continues to slash prices on key items to attract cost-conscious consumers.

Costco's fourth-quarter revenue of $79.7 billion fell short of analysts' expectations of $79.9 billion.
The retailer raised individual membership fees to $65 and executive memberships to $130, effective September 1.
Costco has lowered prices on staple items like its $1.50 hot dog combo and $5 rotisserie chicken, as well as several Kirkland Signature products.
Despite the fee hike, Costco's membership renewal rate remains strong at 92.9% in the U.S. and Canada.
Digital sales grew nearly 19% year-over-year, driven by new app features and increased e-commerce activity.