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 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.
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.
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