PriceSmart Announces Opening of Fourth Warehouse Club in El Salvador and Earnings Release and Conference Call Details for the Second Quarter of Fiscal 2024

Rhea-AI Summary

PriceSmart, Inc. opens a new warehouse club in El Salvador, expanding its total to 54 clubs. The company plans to release its second-quarter financial results on April 9, 2024, followed by a conference call on April 10, 2024.

SAN DIEGO, March 1, 2024 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT) today announced that on February 15, 2024 the Company opened its newest warehouse club in the city of Santa Ana, El Salvador, bringing the total number of warehouse clubs in operation by the Company to 54. The Santa Ana club is the fourth club in El Salvador and was constructed on a five-acre property.

Second Quarter Conference Call Details

PriceSmart plans to release financial results for the second quarter of fiscal year 2024 on Tuesday, April 9, 2024 after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Wednesday, April 10, 2024 to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8228 or (646) 564-2877 for international callers and asking to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through Wednesday, April 17, 2024 by dialing (888) 660-6264 for domestic callers or (646) 517-3975 for international callers and entering replay passcode 59511#.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 54 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; eight in Costa Rica; seven in Panama; six in Guatemala; five in the Dominican Republic; four in Trinidad and El Salvador; three in Honduras; two in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands).

This press release may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, adverse changes in economic conditions in our markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of Member, employee or business information, cost increases from product and service providers, interruption of supply chains, novel coronavirus (COVID-19) related factors and challenges, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to ir@pricesmart.com. 

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SOURCE PriceSmart, Inc.

FAQ

When did PriceSmart open its newest warehouse club in El Salvador?

PriceSmart opened its newest warehouse club in the city of Santa Ana, El Salvador on February 15, 2024.

How many warehouse clubs does PriceSmart currently have in operation?

PriceSmart currently has 54 warehouse clubs in operation.

When will PriceSmart release its financial results for the second quarter of fiscal year 2024?

PriceSmart plans to release its financial results for the second quarter of fiscal year 2024 on Tuesday, April 9, 2024 after the market closes.

When is the conference call to discuss PriceSmart's financial results for the second quarter of fiscal year 2024?

The conference call to discuss PriceSmart's financial results for the second quarter of fiscal year 2024 will be held on Wednesday, April 10, 2024 at 12:00 p.m. Eastern time (9:00 a.m. Pacific time).

How can individuals participate in PriceSmart's earnings call?

Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8228 or (646) 564-2877 for international callers and asking to join the PriceSmart earnings call.

What is the replay passcode for PriceSmart's conference call?

The replay passcode for PriceSmart's conference call is 59511#.