Pricesmart Inc Stock Price, News & Analysis

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.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 3.4% increase in total revenues for Q2 fiscal year 2021, totaling $937.6 million. Net merchandise sales rose 3.1% to $898.4 million, despite a negative impact of $27.3 million from foreign currency fluctuations. The company achieved a net income of $28.2 million ($0.92 per diluted share), up from $25.6 million ($0.85 per diluted share) year-over-year. Notably, the opening of the new Usaquén Club in Bogotá and the launch of PriceSmart Pharmacies in Costa Rica signify growth strategies, even as pandemic-related closures affected operations.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 1.3% increase in net merchandise sales for February 2021, totaling $258.7 million. However, foreign currency fluctuations negatively impacted sales by 3.1%, equating to $7.8 million. For the five weeks ending February 28, comparable sales rose 2.8%, affected by 3.0% currency rate fluctuations. Year-to-date sales increased 5.2% to $1,736.8 million, with currency issues impacting sales by $54.7 million. PriceSmart plans to release its Q2 earnings on April 8, 2021.

PriceSmart, Inc. (NASDAQ: PSMT) announced the election of two new board members and the results from its 2021 annual stockholders meeting on February 4, 2021. Patricia Márquez and David Snyder join the board, enhancing expertise in environmental, social responsibility, and governance. The board also declared a semi-annual cash dividend of $0.70 per share, with payments of $0.35 on February 26 and August 31, 2021. Additionally, stockholders approved executive compensation and the selection of Ernst & Young as the independent accounting firm for the fiscal year ending August 31, 2021.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 5.2% increase in net merchandise sales for January 2021, totaling $267.1 million, despite a 3.5% negative impact from currency exchange fluctuations. Comparable sales for clubs open over 13 months rose 2.8%. Challenges included COVID-related restrictions affecting operations and a sales shift to a new club in Bogotá, Colombia. The company's Click & Go™ service contributed 3.6% of sales. Year-to-date sales increased 6.0% to $1.478 billion, also impacted negatively by exchange rates.

PriceSmart, Inc. (NASDAQ: PSMT) has announced plans to build its ninth warehouse club in Colombia, expected to open in fall 2021. This expansion comes as part of a broader strategy that includes new clubs in Guatemala City and Portmore, Jamaica, aiming to reach 50 operational clubs by spring 2022. The new Colombia location in Bucaramanga will be a smaller format, reflecting the company’s ongoing commitment to growth in secondary markets. PriceSmart currently operates 47 clubs across 12 countries and territories.

PriceSmart, Inc. (NASDAQ: PSMT) reported a 2.8% increase in net merchandise sales for December 2020, totaling $372.6 million. However, foreign currency fluctuations negatively impacted sales by 3.1%, or $10.5 million. Comparable sales for 43 warehouses decreased by 1.7% due to COVID-19 restrictions, particularly affecting Costa Rica, Panama, and Colombia. Despite challenges, the Click & Go™ service contributed 2.8% to total sales. The company plans to open new clubs in Guatemala and Jamaica, indicating ongoing expansion efforts.