PriceSmart Announces Release of its Fiscal Year 2023 Environmental and Social Responsibility (ESR) Report Highlighting Commitment to Sustainability and Community Impact and Conference Call Details for the Third Quarter of Fiscal 2024
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.
- PriceSmart recognized as one of Newsweek's Top 100 Global Most Loved Workplaces for 2022 and 2023.
- Expansion of solar energy production and recycling stations.
- Nearshoring supply chain and optimizing distribution network.
- Supporting women-led businesses and community empowerment through the PriceSmart Foundation.
- Expansion of employee volunteerism programs.
- No direct financial data or performance metrics provided in the ESR report.
- Potential costs associated with expanding solar energy and recycling initiatives.
- Uncertainty about the impact of nearshoring on supply chain efficiency and costs.
This comprehensive report provides information on PriceSmart's commitment to sustainability and positively impacting communities and the environment. Through detailed insights into the Company's programs and initiatives, the report describes PriceSmart's dedication to fostering environmental stewardship, social responsibility, and strong corporate governance across its operations.
Key Achievements and Initiatives:
- Our People: PriceSmart is providing employees with opportunities for development to enable each team member to learn and grow.
- Global Recognition: PriceSmart has been honored as one of Newsweek's Top 100 Global Most Loved Workplaces in the
U.S. for two consecutive years, 2022 and 2023. - Energy and Waste: Across the Company's facilities, PriceSmart is seeking to minimize energy usage, maximize solar energy production, and expand recycling stations, in applicable markets and locations.
- Sustainable Supply Chain: The Company is nearshoring its supply chain, expanding its network of distribution centers, and continuing to optimize the flow of goods throughout the distribution network.
- PriceSmart Foundation Impact: The Company is committed to empowering communities by supporting youth development, education, and fostering economic opportunities. Additionally, PriceSmart Foundation has placed a significant emphasis on accelerating growth for women-led businesses in
Central America . - Expanding Volunteerism: The Company is expanding its volunteering program which encourages employees to engage in community service.
PriceSmart encourages stakeholders to explore the full fiscal year 2023 ESR report to gain a deeper understanding of the Company's efforts and achievements in environmental and social matters, including our people, supply chain and governance. The report is a testament to PriceSmart's dedication to making a long-lasting positive difference in the world.
Access the full ESR report at https://investors.pricesmart.com under the ESG tab.
Third Quarter Conference Call Details
PriceSmart plans to release financial results for the third quarter of fiscal year 2024 on Wednesday July 10, 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 Thursday July 11, 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 Thursday, July 18, 2024 by dialing (888) 660-6264 for domestic callers or (646) 517-3975 for international callers and entering replay passcode 97656#.
About PriceSmart
PriceSmart, headquartered in
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. In addition, these risks are not the only risks that the Company faces. The Company could also be affected by additional factors that apply to all companies operating globally and in the
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.
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