BJ’s Wholesale Membership is growing its membership charges for the primary time in almost seven years, the warehouse retailer chain announced on Thursday.
BJ’s will hike the price of its primary membership plan by 5 bucks to $60, and lift its Membership+ plan by $10 to $120, beginning on Jan. 1, 2025, it stated. The upper charges will let it “put money into a good stronger worth proposition for its 7.5 million member base, which continues to develop,” the corporate stated.
The yearly charges are a revenue heart for the corporate, producing $115 million in earnings from a yr in the past, or up 8.4%.
The transfer follows the identical step by BJ’s bigger competitor Costco, which in September raised its primary membership fee to $65 from $60, its first enhance since 2017. Sam’s Membership raised its fees in 2022.
Primarily based in Marlborough, Massachusetts, BJ’s operates roughly 215 shops, principally all through the East Coast and Michigan.
Shares of BJ’s surged on Thursday after the retailer reported better-than-expected third quarter earnings.
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