Shervin Zand

Shervin Zand asked if the 6% membership growth reflected delayed benefits from membership sharing crackdowns and if new executive membership benefits were driving a more favorable mix for incoming members.

Answer

CFO Gary Millerchip clarified that there's no data linking current growth to past membership sharing crackdowns, which was a COVID-era issue. He confirmed that the company is encouraged by member reaction to added value, such as extended hours and Instacart benefits, noting that the growth in executive membership profile typically leads to more engaged members who shop more frequently, aligning with the goal to encourage upgrades.

Shervin Zand asked if the 6% membership growth in the quarter reflected delayed benefits from membership sharing crackdowns and if new executive membership benefits were driving a more favorable mix for new incoming members.

Answer

CFO Gary Millerchip stated that data does not indicate a link between current sign-ups and membership sharing crackdowns, as that impact has flowed through for some time. He confirmed that the company is encouraged by member reaction to added value, such as extended hours and Instacart benefits, which contribute to executive membership growth and more engaged members.