Costco Wholesale Corporation (NASDAQ:COST) membership fees are on the rise.

The grocer’s most recent quarterly results failed to meet expectations and saw sales decline year-over-year. Costco hopes to recoup some of this revenue loss by raising the price of the company’s membership fees.

This will mark the first time the retailer is increasing these fees since 2011. The price hike will be by $5 for its basic membership fees as of June 1, which means that its business, “goldstar” and business add-on consumers will pay $60 a year.

Costco’s executive memberships will also be pricier, but the company is ensuring that the price difference is worth it for consumers as they will offer 2% more rewards. Company purchases and other perks will increase from $110 to $120, while the maximum annual 2% reward to $1,000 from $750.

There are nearly 90 million consumers who have a Costco rewards card. Costco membership fees amounted to $636 million in the company’s second quarter, which was better than the $603 million raked in during the year-ago period.

The company owns 728 warehouses, 508 of which are located in the U.S., and 94 in Canada.

COST stock fell 4.2% on the news.