Sarasota, Fl (WWSB) -- It's going to cost you a little more to save money by shopping at Costco.
The warehouse retail giant is raising its annual membership fees for the first time in six years.
The cost of a basic "Gold Star" membership is going up $5.00 to $60.00 a year.
The executive membership, which offers extra discounts and rewards on purchases, jumps $10.00 to $120.00 a year.
The fee increases will affect about 35 million members.
The increases will go into effect on June first.
The move comes as Costco's latest earnings report reveals sales and profits were lower than expected.
The company admits it's dealing with tough competition from rivals Sam's Club and Target, as well as lower prices on food and electronics.
