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. (PSMT) is a retail trade company that owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The news flow for PriceSmart centers on its warehouse club operations, financial performance and expansion activity across multiple countries and one U.S. territory.
Company news releases frequently report quarterly and annual operating results, including total revenues, net merchandise sales, comparable net merchandise sales, operating income, net income and adjusted EBITDA. These updates often highlight net merchandise sales growth and comparable net merchandise sales trends, both on a reported basis and on a constant-currency basis, along with explanations of the impact of foreign currency exchange rate fluctuations on reported results.
Another recurring theme in PriceSmart’s news is its club network development. The company has announced openings of new warehouse clubs, such as additional clubs in Costa Rica and Guatemala, and has described plans for new locations in markets including the Dominican Republic and Jamaica. These announcements often specify the city where a new club is planned and indicate how the total number of warehouse clubs will change once the new locations are open.
PriceSmart also issues press releases about corporate events such as CEO and CFO transition plans, including the timing of leadership changes and related employment and compensation arrangements. In addition, the company regularly announces the dates and dial-in details for its quarterly earnings conference calls, providing investors with information on when financial results will be released and how to access management’s discussion.
Investors and followers of PSMT can use this news stream to monitor PriceSmart’s financial performance, membership warehouse club expansion, leadership updates and other operational developments as disclosed by the company.
PriceSmart plans to release its financial results for Q4 FY 2022 on October 31, 2022, after market close. A conference call will take place on November 1, 2022, at 12:00 p.m. ET to discuss these results. Interested participants can dial (855) 209-8211 for U.S. calls or (412) 317-5214 for international access.
The company operates 50 warehouse clubs across 12 countries and territories in Latin America and the Caribbean, aiming to open two additional clubs in 2023.
PriceSmart, Inc. reported robust financial results for Q3 FY2022, with net merchandise sales increasing 16.5% to $999 million and total revenues rising 15.1% to $1.03 billion. Despite challenges from global supply chain disruptions and inflation, the company achieved record membership levels of over 1.75 million accounts and a strong renewal rate of 88.9%. Operating income decreased to $33.8 million, and net income fell to $19.3 million, or $0.62 per diluted share. PriceSmart plans to open new clubs in El Salvador and Colombia by mid-2023.
PriceSmart, Inc. (NASDAQ: PSMT) will release its third quarter fiscal year 2022 financial results on July 11, 2022, after market close. A conference call for discussion will take place on July 12, 2022, at 12:00 p.m. Eastern time. Interested participants can join by calling (855) 209-8211 domestically or (412) 317-5214 internationally. A digital replay of the call will be available until July 19, 2022. PriceSmart operates 50 warehouse clubs across 12 countries, with plans for a new location in Medellín, Colombia, set to open in summer 2023.
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.
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