Walmart's Sam's Club celebrates 40th birthday with membership deal
Walmart-owned Sam's Club is rolling out a membership deal to commemorate its 40th birthday.
Sam's Club opened in April 1983 and has since expanded to nearly 600 clubs. To celebrate this, the company announced that first-time customers can get $40 off when they sign up for a membership.
First-time customers can pay $10 to join its Club membership program for the first year. They also can join the company's Plus membership program for $70 for the first year, according to its website.
The company says the offer – which can be redeemed in-store or online – is available between April 14 and April 19.
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In October, the company upped prices for both membership tiers for the first time in several years.
Fees for Club members rose from $45 to $50 while memberships for its Plus members rose from $100 to $110. Additionally, the cost of add-on memberships increased from $40 to $45.
It was the first time in nine years that prices for its Club membership increased and the first time since 1999 that fees for its Plus membership increased.
By comparison, rival BJ's charges its members relatively the same for its membership offerings. Its Club Card membership costs $55 while its Club Plus membership will cost guests about $110.
However, Costco leads both companies in membership costs.
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Its Business and Gold Star memberships cost $60 and its Executive membership is double that.
Last month, Costco Chief Financial Officer Richard Galanti also hinted that memberships will increase.
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"In our view, it's a question of when, not if," Galanti told investors on an earnings call.
Costco typically raises its membership fee every five years and seven months, on average. Costco last increased its membership prices in June 2017.
Galanti acknowledged that June would mark six years since it last raised the price of its Gold Star membership.
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