Pricesmart Inc Stock Price, News & Analysis

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.

PriceSmart, Inc. (NASDAQ: PSMT) reported strong fiscal Q3 2021 results, with total revenues rising 11.9% to $895.3 million, and net merchandise sales up 11.6% to $857.5 million. Operating income increased to $36.0 million, while net income grew to $22.5 million, or $0.73 per diluted share. The membership renewal rate reached 87.6%, exceeding pre-COVID levels. Plans are underway to open new warehouse clubs in Guatemala and Colombia in fall 2021 and Jamaica in spring 2022.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 16.3% increase in net merchandise sales for May 2021, totaling $286.4 million, compared to $246.3 million in May 2020. Comparable sales rose 12.0% for 45 clubs open at least 13.5 months. Despite currency fluctuations negatively impacting sales by 1.6%, membership grew 5.2% with a renewal rate of 87.6%. Total sales for nine months reached $2,594.3 million, a 7.3% increase year-over-year. The company plans to announce Q3 earnings on July 8, 2021.

In April 2021, PriceSmart (NASDAQ: PSMT) reported a 22.0% increase in net merchandise sales, reaching $263.4 million compared to $216.0 million in April 2020. However, foreign currency exchange fluctuations negatively impacted sales by 1.6%, or $3.4 million. The total number of warehouse clubs operating rose to 47 from 45 a year earlier. Comparable sales for clubs open at least 13.5 months grew 25.3%. Despite challenges from the pandemic, the membership renewal rate improved to 86.1%, reflecting growth in online capabilities and strong inventory management.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 0.5% increase in net merchandise sales to $307.6 million for March 2021, despite a 5.9% decline in comparable sales. Currency fluctuations negatively impacted sales by 1.5%. Fiscal year-to-date sales rose 4.5% to $2,044.4 million, influenced by a 3.0% negative impact from foreign currency exchange. CEO Sherry Bahrambeygui noted the ongoing challenges from COVID-19 restrictions that affected sales and club operations. PriceSmart operates 47 warehouse clubs across 12 countries.