Costco reportedly planning to raise its membership fees

Costco is preparing to raise its membership fees, both basic and executive, by nearly 10 percent, according to various news reports.

The reports, which cited an analyst with UBS, said the chain of wholesale clubs probably will increase its annual fees from $55 to $60 for its basic membership and from $110 to $120 for its executive memberships.

The change is expected to happen in late 2016 or early 2017.

Costco did not comment.

The analyst mentioned the membership fees in a research note following a meeting with top Costco executives. The fee increases shouldn’t have a major impact on membership renewals and sales, the analyst said.

This story was originally published April 25, 2016 at 8:21 PM with the headline "Costco reportedly planning to raise its membership fees."