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, Inc. (NASDAQ: PSMT) has announced plans to build its ninth warehouse club in Colombia, expected to open in fall 2021. This expansion comes as part of a broader strategy that includes new clubs in Guatemala City and Portmore, Jamaica, aiming to reach 50 operational clubs by spring 2022. The new Colombia location in Bucaramanga will be a smaller format, reflecting the company’s ongoing commitment to growth in secondary markets. PriceSmart currently operates 47 clubs across 12 countries and territories.
PriceSmart, Inc. (NASDAQ: PSMT) reported a 2.8% increase in net merchandise sales for December 2020, totaling $372.6 million. However, foreign currency fluctuations negatively impacted sales by 3.1%, or $10.5 million. Comparable sales for 43 warehouses decreased by 1.7% due to COVID-19 restrictions, particularly affecting Costa Rica, Panama, and Colombia. Despite challenges, the Click & Go™ service contributed 2.8% to total sales. The company plans to open new clubs in Guatemala and Jamaica, indicating ongoing expansion efforts.
PriceSmart, Inc. (NASDAQ: PSMT) reported solid results for the fiscal first quarter of 2021, with total revenues rising 8.1% to $877.4 million. Net income was $27.7 million, or $0.90 per diluted share, reflecting a 40.6% increase year-over-year. Operating income soared by 45.0% to $44.5 million. Although foreign currency fluctuations negatively impacted net merchandise sales by $27.4 million, the company successfully expanded its Click and Go™ service and improved operational efficiencies. The firm continues to adapt to ongoing pandemic-related challenges, demonstrating resilience in a fluctuating market.
PriceSmart, Inc. (NASDAQ: PSMT) announced plans to construct new warehouse clubs in Guatemala City and Portmore, Jamaica, expected to open in fall 2021 and spring 2022, respectively. The company, which operates 47 clubs across 12 countries, aims to enhance its market presence following successful operations in Guatemala. Despite initial adverse impacts on comparable net merchandise sales from new openings, PriceSmart believes that this expansion will drive long-term growth through increased membership and sales. The developments follow land acquisitions in 2019 for both locations.
PriceSmart, Inc. (NASDAQ: PSMT) reported a 7.9% increase in net merchandise sales for November 2020, totaling $300.0 million, compared to $278.1 million the previous year. However, foreign currency fluctuations negatively impacted sales by 3.4%, or $9.8 million. Comparable sales for 43 clubs open at least 13.5 months rose 5.6%, yet faced a 3.5% decline due to currency effects. The company opened a new warehouse in Bogotá, Colombia, increasing its total clubs to 47. Fiscal year-to-date sales also showed improvement, with $838.4 million, a 7.7% increase year-over-year.
PriceSmart, Inc. (NASDAQ: PSMT) reported a 10.4% increase in net merchandise sales for October 2020, totaling $280.3 million compared to $254.0 million last year. Adjusting for foreign currency impacts, this amounted to a 3.6% negative effect. The company operated 46 warehouse clubs by the end of October 2020, up from 43 a year prior. Comparable sales for clubs open for at least 13.5 months rose 4.1%. Fiscal year-to-date sales increased 7.5% to $538.4 million, despite currency fluctuations impacting sales negatively by $17.7 million.
PriceSmart, Inc. (PSMT) reported fourth quarter and full year results for fiscal year 2020. Despite losing approximately 260 club days due to COVID-19 restrictions, total revenues rose by 1.2% to $810.6 million. Net merchandise sales increased by 0.5% to $772.9 million. However, comparable net merchandise sales for clubs open over 13 months fell 4.0%. For the year, total revenues grew 3.3% to $3,329.2 million, while net income was $78.1 million, or $2.55 per diluted share. PriceSmart plans to open its 47th club in December.
PriceSmart, Inc. (NASDAQ: PSMT) reported a 4.6% increase in net merchandise sales for September 2020, totaling $258.1 million, compared to $246.7 million in September 2019. However, foreign currency exchange fluctuations had a negative impact of 3.5%, equating to $8.6 million. The company operated 46 warehouse clubs at the end of September 2020, up from 43 the previous year. Comparable net merchandise sales for clubs open at least 13 ½ months increased by 0.3%, despite facing some operational challenges due to COVID-19 restrictions, particularly in Panama.
PriceSmart, Inc. (NASDAQ: PSMT) reported a 0.9% increase in net merchandise sales for August 2020, totaling $262.4 million, despite a 3.9% negative impact from foreign currency exchange fluctuations. Year-to-date sales rose 3.2% to $3,191.8 million. However, comparable net merchandise sales for clubs open over 13.5 months decreased 2.8%, affected by similar currency fluctuations. The company's Click & Go service contributed 4.0% to total sales. Fourth quarter results will be released on October 29, 2020.
PriceSmart, Inc. (NASDAQ: PSMT) reported net merchandise sales of $261.4 million for July 2020, a 2.2% increase compared to $255.8 million in July 2019. However, foreign currency fluctuations negatively impacted sales by 3.7%. For comparable net merchandise sales, there was a 4.5% decline for 42 clubs open 13.5 months, primarily due to COVID-related restrictions, losing approximately 100 club days to closures. Fiscal year-to-date sales rose 3.5% to $2.93 billion, but currency fluctuations reduced overall performance by 1.8%.
