Walmart-owned Sam's Club raises its annual membership fee to $60
cnbc.com • • business
Key Points:
- Sam's Club will raise its annual membership fees by $10 starting May 1, charging $60 for basic membership and $120 for the higher-tier Plus membership, up from $50 and $110 respectively.
- The fee increase aims to support enhanced member benefits, including expanded product assortment, longer hours, and improved curbside pickup and delivery options.
- Despite the hike, Sam's Club fees remain below rival Costco's $65 basic and $130 Plus fees, aligning more closely with BJ's Wholesale Club pricing.
- Sam's Club's U.S. net sales grew 3.1% to $93 billion last fiscal year, driven partly by a 23% increase in e-commerce sales and a rise in transactions and visits.
- The Plus membership will now offer up to $750 annually in Sam's Cash rewards, increased from $500, and the fee increase could generate over $200 million in additional subscription income for Walmart.
