Sam’s Club membership price is increasing for the first time in years

Sam’s Club CEO Kathryn McLay says entry level club members will see a jump from $45 to $50 a year.

CNN— The price of a Sam’s Club membership is increasing for the first time in 9 years. Sam’s Club CEO Kathryn McLay says entry level club members will see a jump from $45 to $50 a year.

Premium members will pay $110, or an extra $10 per year, which gets them extended shopping hours and other perks.

But to ease the pain of the price increase, parent company Walmart says they will give back the difference in Sam’s cash for the first year.