Here’s Costco’s plan for a membership-price increase

Costco makes more than half its profit from membership sales, meaning that the warehouse retailer's core job is keeping members happy. If the chain delivers strong value and a positive shopping experience, customers will continue to feel good about paying $60 for a Gold Membership or $120 for an Executive Membership, which comes with 2% cash back up to $1,000 a year. The system works: During the chain's fiscal fourth quarter ended Sept. 3, the renewal rate in the U.S. and Canada ticked up 0.1 percentage point to 92.7%.