BJ's Wholesale Club hikes membership fees for first time since 2018

BJ's Wholesale Club is increasing its membership fees for the first time in nearly seven years, the warehouse store chain announced on Thursday.

BJ's will hike the cost of its basic membership plan by five bucks to $60, and raise its Club+ plan by $10 to $120, starting on Jan. 1, 2025, it said. The higher fees will let it "invest in an even stronger value proposition for its 7.5 million member base, which continues to grow," the company said.

The yearly fees are a profit center for the company, generating $115 million in income from a year ago, or up 8.4%.