The business’s revenue from membership fees increased 7.6% to $1.17 billion, up from $1.08 billion in the same period last year, the company said.
Nearly half (47%) of Costco’s 77.4 million paid memberships are executive memberships, the business said earlier this month.
This year, the business also began installing scanners in warehouses, forcing members to scan their membership cards in order to visit certain locations.
Additionally, after the Christmas shopping season, Costco is anticipated to stop selling books at the majority of its locations.
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