It is no secret that Costco (COST) is TikTok famous, as it appears to go viral on the platform every week. The warehouse club has even managed to further boost its membership numbers after it recently implemented a few controversial changes to its stores.
During the summer, Costco officially announced its crackdown on membership sharing, which forces customers to scan their membership cards through a machine before entering stores. In September, it even implemented a price hike on membership fees, where a basic membership increased from $60 to $65 a year.
😲Don’t Miss this amazing Black Friday Move! Get 60% off TheStreet Pro. Act now before it’s gone. 🚨
The changes clearly have not dented Costco’s sales in any way. In the company’s fourth-quarter earnings report for 2024, the retailer revealed that its comparable sales increased by about 5% year-over-year during the quarter.
Related: BJ’s follows Costco with controversial membership change
It also increased its membership base by 7% during the quarter, compared to the same time period last year.
Costco reveals its plans for Thanksgiving Day
As the momentum around Costco grows, it is opting to give its employees a break from the growing frenzy around its services.
On Nov. 28, Thanksgiving Day, Costco will close all of its 614 stores across the nation.
The inside of a Costco superstore
ArnoldReinhold, CC-BY-SA-4.0 via Wikimedia Commons
It is one of the many holidays on which Costco shuts its doors. According to the company’s website, the retailer also closes on New Year’s Day, Easter Sunday, Memorial Day, Independence Day, Labor Day and Christmas.
The move from Costco follows in the footsteps of its main competitors, BJ’s and Sam’s Club, which are both closed on Thanksgiving.
Costco is closed on Thanksgiving, what now?
Even though Costco is closing on Thanksgiving, it will be open during regular hours on Nov. 27, giving customers one last chance to do some last-minute shopping before the holiday.
More Retail:
PepsiCo’s plan to buy a popular brand draws threats from consumersTarget makes bold clarification to return policy amid alarming trendH&M is the latest victim of an alarming shift in consumer behavior
Many retailers across the country are opting to remain open for limited hours the day before Thanksgiving. If consumers need to go grocery shopping on Thanksgiving Day, other popular retailers such as Whole Foods, Dollar General, Sprouts Farmers Market, Kroger and others will be open for limited hours.
Costco is planning to open back up on Black Friday, Nov. 29, at 9 a.m. on the dot, closing at 8:30 p.m.
Related: Veteran fund manager sees world of pain coming for stocks
