Costco hikes membership fees
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 11 July 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, July 11th, 7-Eleven. I'm Julie Morgan. |
| 0:14.0 | Costco is increasing prices, but don't worry, the hot dog combo is still a buck 50. |
| 0:19.5 | Alphabet is no longer interested in HubSpot, and what do you think of the NBA on Amazon Prime |
| 0:25.6 | Video, E-SPN and NBC? |
| 0:29.7 | Costco announced that it is raising the membership fee for its nearly 52 million customers, a first since 2017. |
| 0:37.8 | The company said it will increase annual membership fees by $5 for U.S. and Canada Gold Star, Business and Business |
| 0:45.8 | Ad-on members resulting in an annual fee of 65 bucks. Annual fees for |
| 0:51.2 | executive memberships in the U.S. and Canada will be hiked to $130 from 120. |
| 0:57.0 | But with that increase, the company is also increasing the maximum annual 2% reward associated with the executive membership to $1,250 from $1,000. |
| 1:08.4 | All changes are effective September 1st. |
| 1:11.3 | Additionally, the company declared a $1.16 per share quarterly dividend, which is in line with the previous |
| 1:18.2 | distribution. |
| 1:19.2 | COST is up nearly 3% in premarket action, |
| 1:23.7 | and this is a popular article on Seeking Alpha, |
| 1:27.0 | more than 100 comments thus far. |
| 1:30.5 | HubSpot failed 12% after a report that Alphabet has abandoned plans to purchase the company. |
| 1:37.0 | According to a Bloomberg report on Wednesday, which cited people familiar with the matter, |
| 1:42.0 | Google and HubSpot never reached a point of detailed talks |
| 1:45.4 | around due diligence. |
| 1:46.9 | Bloomberg reported back in May that Google was |
| 1:49.4 | progressing in discussions to purchase Hupspot, |
... |
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