Pricesmart Inc Stock Price, News & Analysis

PriceSmart, Inc. (PSMT) reported record operating results for Q2 2022, with net merchandise sales exceeding $1 billion, growing by 12.6% year-over-year. Operating income rose by 7.4% to $48.3 million. The membership base reached an all-time high with a renewal rate of 89.8%. Total revenues increased by 10.8% to $1.04 billion. Despite negative impacts from foreign currency fluctuations, comparable net merchandise sales grew by 10.3%. The company plans to open its 50th warehouse club in Jamaica, enhancing its growth strategy.

PriceSmart, Inc. (NASDAQ: PSMT) announced the commencement of construction for its second warehouse club in Medellín's El Poblado area, marking its tenth location in Colombia. The new facility is projected to open in summer 2023, serving an increasingly dense population with a favorable demographic profile aligning with PriceSmart's value proposition. Additionally, the company's second quarter fiscal year 2022 financial results will be released on April 7, 2022, accompanied by a conference call on April 8, 2022.

PriceSmart, Inc. (NASDAQ: PSMT) announced a 22.9% increase in its annual dividend, now totaling $0.86 per share, with payments scheduled for February 28 and August 31 of 2022. The decision stems from strong cash flows from operations, which support growth plans in club expansion, service enhancements, and digital capabilities. At its recent annual meeting, the board elected ten directors, including David Price, and ratified executive compensation. Ongoing dividends are expected but remain subject to board discretion amidst economic uncertainties, including impacts from COVID-19.

PriceSmart reported strong fiscal Q1 2022 results, with total revenues increasing by 11.2% to $975.4 million compared to $877.4 million YoY. Net merchandise sales rose 12.6% to $944.0 million, despite a $8.4 million negative impact from foreign currency fluctuations. The company achieved an operating income of $46.0 million, slightly up from $44.5 million a year ago. Net income increased to $30.5 million or $0.98 per diluted share, compared to $27.7 million and $0.90 in Q1 2021. Membership renewals also reached a record 89.0%.

PriceSmart, Inc. (NASDAQ: PSMT) will release its first quarter fiscal year 2022 financial results on January 6, 2022, post-market. A conference call will take place on January 7, 2022, at 12:00 p.m. ET to discuss the results. Interested parties may join by calling (855) 209-8211 domestically or (412) 317-5214 internationally. A digital replay will be available until January 14, 2022. PriceSmart operates 49 warehouse clubs across Latin America and the Caribbean, with plans to open its 50th club in Jamaica in April 2022.

PriceSmart, Inc. reported strong financial results for the fourth quarter and full year ending August 31, 2021. Net merchandise sales grew by 12.7% in Q4, leading to an 8.6% annual increase. Total revenues rose 12.2% to $909.6 million for Q4 and 8.7% to $3,619.9 million for the year. Net income for Q4 was $19.5 million ($0.63 per share), slightly down from the previous year. Membership renewal rates reached 89.6%, indicating robust member engagement. PriceSmart plans to expand with three new clubs in Latin America.

Click Partners LP has successfully acquired Aeropost Inc. from PriceSmart, Inc. (PSMT) in a strategic move to enhance e-commerce logistics in the Caribbean and Central America. This acquisition combines Click's marketplace technology and smart-locker network with Aeropost's extensive logistics operations, servicing 38 countries and handling over $400 million in cross-border merchandise annually. The partnership aims to provide a comprehensive online shopping solution for consumers and retailers, facilitating access to global products at affordable prices.

PriceSmart announced the sale of its Aeropost subsidiary’s legacy cross-border casillero and online marketplace businesses to Click to Collect Company Ltd., based in Nassau, Bahamas. The sale aims to consolidate resources and enhance PriceSmart's focus on key strategies while retaining critical Aeropost personnel and technology for its omni-channel shopping experience. PriceSmart believes this transaction will not materially affect its current fiscal results and is expected to expedite innovation by freeing up previously shared resources.

PriceSmart, Inc. (NASDAQ: PSMT) will release its fourth quarter fiscal year 2021 financial results on October 21, 2021, after the market closes. A conference call to discuss these results is scheduled for October 22, 2021, at 12:00 p.m. Eastern time. Interested parties can join by calling (855) 209-8211 toll free. PriceSmart operates 47 warehouse clubs in 12 countries and plans to open three new clubs by the spring of 2022, increasing its total to 50.