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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.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Stephanie Mikulich.