Costco delays membership fee hike

 

Costco will delay plans to raise its Gold Star membership fees.  The company is working on digital transformation amid falling e-commerce sales. CFO Richard Galanti said Costco would focus on "holding" its members for the time being. He described Costco as a "beacon of light" for its members. Consumer inflation worries boosted Costco's sales last quarter. E-commerce sales fell 10% over the quarter despite other channels showing better performance. Costco plans to re-platform its e-commerce site and mobile apps to boost online sales.