Costco raises membership fees

Costco Wholesale Corp. announced Thursday that it’s raising its membership fees, as the warehouse club operator released quarterly results that fell short of Wall Street’s expectations.

Starting June 1, annual membership fees for individual, business and business add-on members in the U.S. and Canada will rise $5 to $60. Executive memberships in the U.S. and Canada will increase from $110 to $120. Overall, the fee increases will affect around 35 million members.