BENTONVILLE (dpa-AFX) - Retail giant Walmart, Inc. (WMT) announced Tuesday the launch of a combined full membership of Walmart+ and Sam's Club Plus at a price of $120 per year, which is $98 lower than buying the memberships separately.
The catch here is that the combined membership is only available as a single annual payment, with no monthly billing option or free trial.
The Walmart+ membership comes at $98 per year and the Sam's Club Plus comes at $120 per year, which totals $219 per year if taken separately.
Walmart noted that existing members also can upgrade, or link their existing accounts through the Walmart or Sam's Club apps or website. Current members who opt to combine their membership will be eligible for a prorated Walmart+ refund.
Walmart+ annual members can switch to the combined membership for just $22 more a year, Club members can switch to the combined membership for $60 more a year, and Sam's Club Plus members can activate Walmart+ at no additional cost.
Meanwhile, both Walmart+ and Sam's Club Plus, along with basic Sam's Club memberships, remain available as separate, standalone plans.
Walmart said U.S. field associates at both Walmart and Sam's Club will receive the combined membership included in their work benefits package.
The retailer also confirmed that costs related to this change in membership program are not expected to materially impact the company's fiscal third quarter or full year guidance.
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