All articles tagged with #membership fee
BJ's Wholesale Club shares rose after reporting strong third-quarter earnings, with net income up nearly 20% year-over-year, despite slightly missing revenue estimates. The company announced its first membership fee increase in seven years, following a similar move by Costco, and introduced a new $1 billion stock buyback program. BJ's also raised its full-year sales growth and earnings per share guidance.
Wall Street analysts are excited about Costco's latest earnings report, leading to price target upgrades for the company's stock. The positive reception is attributed to the retailer's strong results and the potential of its membership fee model.
Costco has indicated that it will raise its membership fee in the future, although no specific announcement has been made yet. The company's Chief Financial Officer stated that it is a matter of "when, not if." Following the release of Costco's fiscal fourth-quarter results, which fell short of Wall Street expectations, the company's shares dropped by 1.8% in after-hours trading.