Welcome to our dedicated page for Pricesmart news (Ticker: PSMT), a resource for investors and traders seeking the latest updates and insights on Pricesmart stock.
PriceSmart Inc (NASDAQ: PSMT) operates membership-based warehouse clubs across Latin America and the Caribbean, combining global retail expertise with localized market strategies. This page serves as the definitive source for official company announcements and analysis-driven updates.
Access curated press releases covering quarterly earnings, club expansions, leadership updates, and merchandise strategy changes. Investors will find essential information about PSMT's growth in emerging markets like Colombia, while analysts can track operational adaptations to regional economic conditions.
All content is verified through primary sources to ensure accuracy. Key focus areas include membership program developments, supply chain optimizations, and competitive positioning against international retailers. Bookmark this page for real-time updates on PSMT's strategic initiatives and market performance metrics.
PriceSmart (NASDAQ: PSMT) announced its fiscal 2024 third-quarter results, highlighting a 12.1% increase in total revenues to $1.23 billion from $1.10 billion in the prior year. Net merchandise sales grew by 11.6% to $1.19 billion, positively impacted by foreign currency exchange rates. Comparable net merchandise sales for stores open over 13.5 months rose 7.8%, with constant currency sales up 5.6%.
Operating income increased to $49.9 million from $43.1 million last year, while net income improved 9.9% to $32.5 million, or $1.08 per diluted share. Adjusted EBITDA reached $71.0 million, up from $63.9 million. Year-to-date, revenues grew 12% to $3.69 billion, and net income rose 17% to $109.8 million, or $3.62 per diluted share. Comparable net merchandise sales for the year-to-date rose 8.2%, with constant currency sales up 5%. The company operates 54 warehouse clubs across 12 countries and one U.S. territory, with plans to open a new club in Costa Rica in 2025.
PriceSmart (NASDAQ: PSMT) has released its fiscal year 2023 Environmental and Social Responsibility (ESR) report, highlighting the company's commitment to sustainability and community impact.
The report details PriceSmart's initiatives in environmental stewardship, social responsibility, and corporate governance, including employee development, energy conservation, and supply chain optimization. The company has received global recognition as one of Newsweek's Top 100 Global Most Loved Workplaces for 2022 and 2023.
Key efforts include expanding solar energy production, recycling stations, nearshoring the supply chain, and supporting women-led businesses in Central America. Additionally, PriceSmart is enhancing its employee volunteerism programs.
PriceSmart will release its third-quarter fiscal 2024 financial results on July 10, 2024, followed by a conference call on July 11, 2024.
