Core Viewpoint - A decline in membership renewal rates and rising concerns regarding operating costs are negatively impacting the retailer's outlook after a period of strong performance [1] Group 1 - Membership renewal rates have dipped, indicating potential challenges in customer retention [1] - There are increasing concerns about operating costs, which may affect profitability and operational efficiency [1] - The retailer has experienced years of significant outperformance, but current trends suggest a shift in this trajectory [1]