PRICESMART ANNOUNCES FISCAL 2025 FOURTH QUARTER OPERATING RESULTS AND PLANS FOR THIRD AND FOURTH WAREHOUSE CLUBS IN JAMAICA

Rhea-AI Summary

PriceSmart (NASDAQ: PSMT) reported fiscal Q4 2025 results for the period ended August 31, 2025, with total revenues of $1.33 billion (up 8.6%) and net merchandise sales of $1.30 billion (up 9.2%).

Comparable net merchandise sales rose 7.5% for the 13-week period and 6.7% for the 52-week period. Q4 net income was $31.5 million or $1.02 diluted EPS; fiscal 2025 net income was $147.9 million or $4.82 diluted EPS. Adjusted EBITDA was $75.5 million in Q4 and $320.7 million for the year.

The company operated 56 clubs at August 31, 2025 and plans three new clubs (La Romana, Montego Bay, South Camp Road), taking clubs to 59 when opened in 2026.

Positive

• Total revenues +8.6% to $1.33B in Q4 2025
• Net merchandise sales +9.2% to $1.30B in Q4 2025
• Comparable net merchandise sales +7.5% for the 13-week Q4 period
• Fiscal 2025 net income +6.5% to $147.9M; EPS $4.82
• Plans to add three clubs, expanding network to 59 locations

Negative

• Foreign currency reduced FY net merchandise sales by $36.8M (0.8%)
• Long-term debt increased to $147.9M from $94.4M (Aug 31, 2024)
• Short-term investments declined to $73.2M from $100.2M

Insights

Retail finance analyst

PriceSmart reports solid revenue and comparable-sales growth, rising operating profit, and three planned club openings in 2026.

PriceSmart grew total revenues to $1.33 billion in the quarter, with net merchandise sales up 9.2% and comparable net merchandise sales up 7.5%. Operating income rose to $52.8 million, and diluted EPS increased to $1.02 for the quarter, signaling continued margin conversion of sales into profit.

The company is expanding its footprint with three clubs expected in spring 2026, summer 2026, and fall 2026, taking the total to 59 clubs. Growth depends on execution of openings and local market performance; foreign currency swings already trimmed year results by 0.8% and can reverse gains.

Watch near-term cash and balance-sheet items: cash rose to $241.0 million and long-term debt increased to $147.9 million. Monitor comparable-sales trends across the next four quarters and the timing of the three new club openings in 2026.

NET MERCHANDISE SALES GREW 9.2 %
COMPARABLE NET MERCHANDISE SALES INCREASED 7.5%
$1.02 EARNINGS PER DILUTED SHARE

SAN DIEGO, Oct. 30, 2025 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT), operator of 56 warehouse clubs in 12 countries and one U.S. territory, today announced results for the fiscal fourth quarter of 2025, which ended on August 31, 2025.

Fourth Quarter Financial Results

Total revenues for the fourth quarter of fiscal year 2025 increased 8.6% to $1.33 billion compared to $1.23 billion in the same period of the prior year. For the fourth quarter of fiscal year 2025, net merchandise sales increased 9.2% to $1.30 billion from $1.19 billion in the fourth quarter of fiscal year 2024. Net merchandise sales - constant currency increased 9.1% over the same prior year period. Foreign currency exchange rate fluctuations impacted net merchandise sales positively by $1.2 million, or 0.1%, versus the same period in the prior year.  

The Company had 56 warehouse clubs in operation as of August 31, 2025 compared to 54 warehouse clubs in operation as of August 31, 2024.

Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 7.5% for the 13-week period ended August 31, 2025 compared to the comparable 13-week period of the prior year. Comparable net merchandise sales - constant currency for the 13 weeks ended August 31, 2025 increased 7.5% compared to the comparable period of the prior year.

The Company recorded operating income of $52.8 million during the fourth quarter of fiscal year 2025 compared to operating income of $49.2 million in the fourth quarter of fiscal year 2024. Net income increased 8.5% to $31.5 million, or $1.02 per diluted share, in the fourth quarter of fiscal year 2025 compared to $29.1 million, or $0.94 per diluted share, in the fourth quarter of fiscal year 2024.

Adjusted EBITDA for the fourth quarter of fiscal year 2025 was $75.5 million compared to $70.7 million in the same period last year.

Year-to-Date Financial Results

Total revenues for the fiscal year ended August 31, 2025 increased 7.2% to $5.27 billion compared to $4.91 billion in the prior year. For fiscal year 2025, net merchandise sales increased 7.7% to $5.15 billion from $4.78 billion in the prior year. Net merchandise sales - constant currency increased 8.5% over the prior year. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $36.8 million, or 0.8%, versus the prior year.

Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 6.7% for the 52-week period ended August 31, 2025 compared to the comparable 52-week period of the prior year. Comparable net merchandise sales - constant currency for the 52 weeks ended August 31, 2025 increased 7.5% compared to the comparable period in the prior year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 0.8% versus the comparable period in the prior year.

The Company recorded operating income during fiscal year 2025 of $232.5 million compared to operating income of $220.9 million. Net income increased 6.5% to $147.9 million, or $4.82 per diluted share, in fiscal year 2025 compared to $138.9 million, or $4.57 per diluted share in the prior year.

Adjusted EBITDA for fiscal year 2025 was $320.7 million compared to $303.6 million in fiscal year 2024.

Plans for New Clubs

The Company has purchased land and plans to open its third warehouse club in Jamaica, located in Montego Bay, approximately 100 miles west from the nearest club in the capital of Kingston. The club will be built on a five-acre property and is anticipated to open in the summer of 2026. Additionally, in the first quarter of fiscal year 2026, the Company executed a land lease for its fourth warehouse club in Jamaica, located on South Camp Road, approximately six miles southeast from the nearest club in the capital of Kingston. The club will be built on a three-acre property and is anticipated to open in the fall of 2026.

As previously announced in July 2025, the Company has purchased land and plans to open its sixth warehouse club in the Dominican Republic, located in La Romana, approximately 73 miles east from the nearest club in the capital of Santo Domingo. The club will be built on a five-acre property and is anticipated to open in the spring of 2026.

Once these three new clubs are open, PriceSmart will operate 59 warehouse clubs in total.

Note Regarding Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

The foregoing discussion of the Company's operating results includes references to adjusted EBITDA, net merchandise sales - constant currency and comparable net merchandise sales - constant currency, which are non-GAAP financial measures. We believe these supplemental measures are useful to investors and analysts because they exclude items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures are defined and reconciled to the most comparable GAAP measures later in this document.

Conference Call Information

PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, October 31, 2025, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 715-9871 or (646) 307-1963 for international callers and asking to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through Friday, November 7, 2025 by dialing (800) 770-2030 for domestic callers, or (647) 362-9199 for international callers, and entering replay passcode 5898084.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 56 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven each in Panama and Guatemala; five in Dominican Republic; four each in Trinidad and El Salvador; three in Honduras; two each in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition, the Company plans to open one new warehouse club in La Romana, Dominican Republic in the spring of 2026, and one warehouse club in each of Montego Bay and South Camp Road, Jamaica in the summer and fall of 2026, respectively. Once these three new clubs are open, the Company will operate 59 warehouse clubs. Our operating segments are the United States, Central America, the Caribbean and Colombia.

This press release may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, adverse changes in economic conditions in our markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of Member, employee or business information, cost increases from product and service providers, interruption of supply chains, novel coronavirus (COVID-19) related factors and challenges, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law. In addition, these risks are not the only risks that the Company faces. The Company could also be affected by additional factors that apply to all companies operating globally and in the U.S., as well as other risks that are not presently known to the Company or that the Company considers to be immaterial.

For further information, please contact Investor Relations (858) 404-8826 or send an email to ir@pricesmart.com.

 

PRICESMART, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED—AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
	Three Months Ended				Years Ended
	August 31, 2025		August 31, 2024		August 31, 2025		August 31, 2024
Revenues:
Net merchandise sales	$   1,302,709		$   1,192,658		$   5,151,120		$   4,783,119
Export sales	640		9,332		15,235		39,438
Membership income	22,602		19,674		85,573		75,240
Other revenue and income	5,024		4,381		18,166		16,101
Total revenues	1,330,975		1,226,045		5,270,094		4,913,898
Operating expenses:
Cost of goods sold:
Net merchandise sales	1,098,466		1,005,356		4,341,358		4,029,490
Export sales	594		8,821		14,364		37,484
Selling, general and administrative:
Warehouse club and other operations	130,577		119,665		498,409		466,457
General and administrative	47,190		41,703		179,859		156,385
Pre-opening expenses	510		—		1,127		970
Loss on disposal of assets	888		1,296		2,467		2,168
Total operating expenses	1,278,225		1,176,841		5,037,584		4,692,954
Operating income	52,750		49,204		232,510		220,944
Other income (expense):
Interest income	2,698		2,437		10,139		11,049
Interest expense	(3,520)		(3,271)		(11,515)		(12,959)
Other expense, net	(5,586)		(6,563)		(24,636)		(17,607)
Total other expense	(6,408)		(7,397)		(26,012)		(19,517)
Income before provision for income taxes and income (loss) of unconsolidated affiliates	46,342		41,807		206,498		201,427
Provision for income taxes	(14,820)		(12,723)		(58,617)		(62,618)
Income (loss) of unconsolidated affiliates	19		(16)		6		66
Net income	$        31,541		$        29,068		$      147,887		$      138,875
Net income per share available for distribution:
Basic	$             1.02		$             0.94		$             4.82		$             4.57
Diluted	$             1.02		$             0.94		$             4.82		$             4.57
Shares used in per share computations:
Basic	30,072		29,972		30,056		30,032
Diluted	30,087		29,972		30,063		30,032

 

PRICESMART, INC. CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT SHARE DATA)
	August 31, 2025		August 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents	$         241,024		$         125,364
Short-term restricted cash	11,061		1,383
Short-term investments	73,186		100,165
Receivables, net of allowance for credit losses of $2 as of August 31, 2025 and $52 as of August 31, 2024, respectively	17,400		18,847
Merchandise inventories	560,730		528,678
Prepaid expenses and other current assets (includes $0 and $4,480 as of August 31, 2025 and August 31, 2024, respectively, for the fair value of derivative instruments)	71,059		57,910
Total current assets	974,460		832,347
Long-term restricted cash	33,206		9,564
Property and equipment, net	996,281		936,108
Operating lease right-of-use assets, net	113,479		96,415
Goodwill	43,238		43,197
Deferred tax assets	41,229		36,618
Other non-current assets (includes $701 and $1,482 as of August 31, 2025 and August 31, 2024, respectively, for the fair value of derivative instruments)	60,375		61,563
Investment in unconsolidated affiliates	6,889		6,882
Total Assets	$      2,269,157		$      2,022,694
LIABILITIES AND EQUITY
Current Liabilities:
Short-term borrowings	$           12,286		$              8,007
Accounts payable	506,949		485,961
Accrued salaries and benefits	52,478		48,263
Deferred income	43,061		38,079
Income taxes payable	7,265		6,516
Other accrued expenses and other current liabilities (includes $551 and $1,179 as of August 31, 2025 and August 31, 2024, respectively, for the fair value of derivative instruments)	57,627		50,035
Operating lease liabilities, current portion	7,930		7,370
Long-term debt, current portion	38,675		35,917
Total current liabilities	726,271		680,148
Deferred tax liability	1,100		1,644
Long-term income taxes payable, net of current portion	4,424		4,762
Long-term operating lease liabilities	122,244		103,890
Long-term debt, net of current portion	147,922		94,443
Other long-term liabilities (includes $6,196 and $2,100 for the fair value of derivative instruments and $13,628 and $12,742 for post-employment plans as of August 31, 2025 and August 31, 2024, respectively)	19,824		14,842
Total Liabilities	1,021,785		899,729
Stockholders' Equity:
Common stock $0.0001 par value, 45,000,000 shares authorized; 32,688,047 and 32,570,858 shares issued and 30,745,833 and 30,635,556 shares outstanding (net of treasury shares) as of August 31, 2025 and August 31, 2024, respectively	3		3
Additional paid-in capital	529,354		514,542
Accumulated other comprehensive loss	(161,439)		(164,590)
Retained earnings	999,426		890,272
Less: treasury stock at cost, 1,942,214 shares as of August 31, 2025 and 1,935,302 shares as of August 31, 2024	(119,972)		(117,262)
Total Stockholders' Equity	1,247,372		1,122,965
Total Liabilities and Equity	$      2,269,157		$      2,022,694

 

Reconciliation of Non-GAAP Financial Measures

The accompanying Consolidated Financial Statements, including the related notes, are presented in accordance with U.S. GAAP (Generally Accepted Accounting Principles). In addition to relevant GAAP measures, we also provide non-GAAP measures including adjusted EBITDA, net merchandise sales - constant currency and comparable net merchandise sales - constant currency because management believes these metrics are useful to investors and analysts by excluding items that we do not believe are indicative of our core operating performance. These measures are customary for our industry and commonly used by competitors. However, these non-GAAP financial measures should not be reviewed in isolation or considered as an alternative to any other performance measure derived in accordance with GAAP and may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

Adjusted EBITDA

Adjusted EBITDA is defined as net income before interest expense, provision for income taxes and depreciation and amortization, adjusted for the impact of certain other items, including interest income and; other income (expense), net. The following is a reconciliation of our Net income to Adjusted EBITDA for the periods presented:

	Three Months Ended				Years Ended
(Amounts in thousands)	August 31, 2025		August 31, 2024		August 31, 2025		August 31, 2024
Net income as reported	$               31,541		$               29,068		$             147,887		$             138,875
Adjustments:
Interest expense	3,520		3,271		11,515		12,959
Provision for income taxes	14,820		12,723		58,617		62,618
Depreciation and amortization	22,775		21,497		88,161		82,611
Interest income	(2,698)		(2,437)		(10,139)		(11,049)
Other expense, net (1)	5,586		6,563		24,636		17,607
Adjusted EBITDA	$               75,544		$               70,685		$             320,677		$             303,621

(1)	Primarily consists of transaction costs of converting the local currencies into available tradable currencies in some of our countries with liquidity issues and foreign currency losses or gains due to the revaluation of monetary assets and liabilities (primarily U.S. dollars) for the three and twelve months ended August 31, 2025 and August 31, 2024.

Net Merchandise Sales - Constant Currency and Comparable Net Merchandise Sales – Constant Currency

As a multinational enterprise, we are exposed to changes in foreign currency exchange rates. The translation of the operations of our foreign-based entities from their local currencies into U.S. dollars is sensitive to changes in foreign currency exchange rates and can have a significant impact on our reported financial results. We believe that constant currency is a useful measure, indicating the actual growth of our operations. When we use the term "net merchandise sales - constant currency," it means that we have translated current year net merchandise sales at prior year monthly average exchanges rates. Net merchandise sales - constant currency results exclude the effects of foreign currency translation. Similarly, when we use the term "comparable net merchandise sales - constant currency," it means that we have translated current year comparable net merchandise sales at prior year monthly average exchanges rates. Comparable net merchandise sales - constant currency results exclude the effects of foreign currency translation.

Net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows:

	August 31, 2025
	Three Months Ended				Year Ended
(Amounts in thousands, except % growth)	Net Merchandise Sales		% Growth		Net Merchandise Sales		% Growth
Net merchandise sales	$        1,302,709		9.2 %		$         5,151,120		7.7 %
Favorable/(unfavorable) impact of foreign currency exchange	1,210		0.1 %		(36,788)		(0.8) %
Net merchandise sales on a constant-currency basis	$        1,301,499		9.1 %		$         5,187,908		8.5 %

Comparable net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows:

	August 31, 2025
	Thirteen Weeks Ended		Fifty-Two  Weeks Ended
	% Growth		% Growth
Comparable net merchandise sales	7.5 %		6.7 %
Unfavorable impact of foreign currency exchange	— %		(0.8) %
Comparable net merchandise sales on a constant-currency basis	7.5 %		7.5 %

 

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SOURCE PriceSmart, Inc.

FAQ

What were PriceSmart (PSMT) Q4 2025 revenues and EPS reported on October 30, 2025?

PriceSmart reported Q4 2025 total revenues of $1.33B and EPS of $1.02 diluted for the quarter.

How much did PriceSmart (PSMT) comparable net merchandise sales change in fiscal Q4 2025?

Comparable net merchandise sales increased 7.5% for the 13-week period ended August 31, 2025.

What is PriceSmart's (PSMT) fiscal 2025 net income and adjusted EBITDA?

Fiscal 2025 net income was $147.9M and adjusted EBITDA was $320.7M.

How many warehouse clubs will PriceSmart (PSMT) operate after the 2026 openings?

Once three planned clubs open in 2026, PriceSmart will operate a total of 59 warehouse clubs.

When are PriceSmart's (PSMT) planned new clubs in Jamaica and La Romana expected to open?

The La Romana club is anticipated in spring 2026; Montego Bay in summer 2026; South Camp Road in fall 2026.

Did foreign exchange affect PriceSmart's (PSMT) 2025 results?

Yes; foreign currency fluctuations reduced fiscal net merchandise sales by $36.8M (0.8%) versus prior year.