Costco stock fell 1.4% in after-hours trading on Tuesday following the results. Shares are up 21% year to date.Membership fees, a key revenue stream for the wholesale retailer, came in at $1.51 billion, higher than Wall Street expectations for $1.46 billion. In the third quarter, the company brought in $1.04 billion in membership fee revenue.
Costco last raised membership prices in June 2017, and a Costco Gold Star membership costs $60 per year, while an Executive Membership goes for $120. "And at some point, we will," Galanti added. "But our view right now is that we've got enough leverage out there to drive business, and we feel that it's incumbent upon us to be that beacon of light to our members in terms of holding them for right now."
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