Costco (COST) is finally raising its membership fees, a move many on Wall Street had been anticipating. Starting September 1, 2024, Gold Star membership fees will increase by $5 to $65, and Executive Memberships will increase by $10 to $130.

The retailer also announced it posted June net sales of $24.48 billion, an increase of 7.4% from a year ago and declared a quarterly cash dividend of $1.16 per share.

Yahoo Finance's Julie Hyman and Josh Lipton discuss the announcement in the video above.

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This post was written by Stephanie Mikulich.