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The Wall Street Journal reports this morning that, as expected, Costco will increase the cost of its US and Canada memberships by $5, to $60. Executive memberships will go from $110 to $120.

At the same time, Costco said that "the reward cap will increase from $750 to $1,000" on purchases made by people with executive memberships.

Costco made the announcement as it said that its most recent quarterly same-store sales were up three percent, while Q2 profit fell 5.7 percent to $515 million and revenue rose to $29.77 billion, up 5.7 percent.
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