New Costco hours debut today: What to know about the chain’s updated perks for ‘Executive’ members

Costco is introducing a new schedule that offers exclusive hours for its Executive members starting today. The company announced the change in an email to members earlier this month, detailing its plans to adjust its hours of operation to add perks for its highest-paying members. The move comes after a strong financial quarter for Costco, with 8% year-over-year sales gains. Previously, Costco's hours were 10 a.m. to 8 p.m. on weekdays, 9:30 a.m. to 6 p.m. on Saturday, and 10 a.m. to 6 p.m. on Sunday. Now, Executive members will have access to the warehouse club an hour earlier, from 9 a.m. Sunday to Friday, and 30 minutes earlier on Saturday. Additionally, Executive members will receive a monthly $10 credit for orders of $150 placed through the company's "Same-Day" service or Instacart. All members will benefit from extended Saturday hours, with the warehouse club closing at 7 p.m. starting July 5. Costco is making these changes to attract more loyal shoppers to its pricier Executive Membership, which costs $130 per year. The company's Executive members are crucial to its financial health, accounting for 47.3% of paid members and 73.1% of worldwide sales. By offering an exclusive shopping experience, Costco aims to keep its biggest spenders coming back for more. The strategy is similar to that of Sam's Club, Costco's main rival.