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Walmart-owned Sam's Club raises its annual membership fee to $60 [MSNBC.com]
Last walmart inc. earnings: 2/18 06:00 am
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WalmartStarting on May 1, the warehouse club — which directly competes withCostcoBJ's Wholesale Clubraised annual fees in October 2022.In a statement, Sam's Club said it has "adjusted our membership pricing to support the things our members love," citing perks including its assortment, expanded hours and better curbside pickup and delivery options.Still, those new fees will be below those of rival Costco, which charges $65 per year for its basic membership and $130 per year for its higher-tier option. Costcohiked its own fees in 2024.Sam's Club is hiking membership fees as its annual sales and membership grow. Net sales for Sam's Club in the U.S. grew by about 3.1% to $93 billion last fiscal year. That growth has come in part from an expanding digital business: In the holiday quarter, the warehouse club's e-commerce sales increased by 23% year over year. Store and website visits increased, too, with transactions rising 5.3% year over year in the same quarter.Higher gas prices, driven
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