Costco shares fall after fee hike, Wall Street miss

[McFurd]

USA Today - 3/3/2017 - Kevin McCoy - Shares of Costco Wholesale fell Friday, the day after the popular discount warehouse club operator announced a hike in membership fees and reported earnings that missed Wall Street forecasts. The Issaquah, Wash.-based company's stock (COST) closed 4.3% lower at $170.26 per share. The fee increase will take effect June 1. Costo contends with competition from other discount clubs, major supermarket chains, retailing giant Walmart and others. Annual membership fees for Costco's individual, business and business add-on members in the USA and Canada will rise $5 to $60, the company said. Executive memberships in the USA and Canada will increase from $110 to $120. The fee increases will affect roughly 35 million members of Costco, which operates 508 warehouses in the USA and Puerto Rico. Read more @ http://www.usatoday.com/story/money/201 ... /98687414/