PSMT

SAN DIEGO, Sept. 1, 2026 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT) plans to release financial results for the fourth quarter of fiscal year 2026 on Monday, October 26, 2026, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Tuesday, October 27, 2026, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free +1 (833) 461-5787 for domestic callers or +1 (626) 884-3620 for international callers. Callers must then enter the passcode 419 902 549 on their keypad and ask to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through Tuesday, November 3, 2026, by dialing +1 (833) 309-1852 for domestic callers or +1 (929) 828-5978 for international callers and entering replay passcode 419 902 549. New Club Opening The Company opened its tenth warehouse club in Costa Rica in August 2026. The new warehouse club occupies a six-acre site in Ciudad Quesada, approximately 47 miles northwest of the nearest club in the capital of San Jose and features a sales floor spanning approximately 42,000 square feet. The club incorporates several sustainable design features, including energy-efficient LED lighting, a CO2-based cooling system, high-efficiency mechanical equipment designed to reduce water and energy consumption, and an on-site wastewater treatment plant. This club is in the northern zone of Costa Rica which is outside the greater metropolitan area of San José, and the Company is encouraged by its initial reception. The Company now operates 58 warehouse clubs in total. 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 58 warehouse clubs in 12 countries and one U.S. territory (ten each in Colombia and Costa Rica; seven each in Panama and Guatemala; six 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 each of Montego Bay and South Camp Road (Kingston), Jamaica in October 2026 and winter of 2026-27, respectively, one warehouse club in Villa Nueva, Guatemala in the winter of 2027, one warehouse club in Santo Tomas de Santo Domingo (Heredia), Costa Rica in the spring of 2027, and one warehouse club in Comuna Las Condes, Santiago, Chile in the spring of 2027. Once these five new clubs are open, the Company will operate 63 warehouse clubs. 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 and distribution center 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, including the effects of tariffs and/or international trade wars and disruptions to remittances, 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, including the timely opening of our announced warehouse clubs, 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, 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 [email protected]. View original content to download multimedia:https://www.prnewswire.com/news-releases/pricesmart-announces-earnings-release-and-conference-call-details-for-the-fourth-quarter-of-fiscal-2026-and-opening-of-tenth-warehouse-club-in-costa-rica-302865550.html

This article first appeared on GuruFocus. Total Revenue: Almost $1.5 billion for the third quarter. Net Merchandise Sales: Increased by 12.5% or 8.5% in constant currency for the third quarter. Comparable Net Merchandise Sales: Increased by 10.7% or 6.9% in constant currency for the third quarter. Average Sales Ticket Growth: 5% increase year-over-year. Transactions Growth: 7.1% increase versus the same prior year period. Gross Margin: Increased 20 basis points to 16% versus Q3 last year. Total Revenue Margin: Improved 30 basis points to 17.7% of total revenue. SG&A Expenses: Increased to 13.3% of total revenues from 13.2% in the prior year period. Operating Income: $65.6 million, a 16.7% increase from the same period last year. Net Income: $39.7 million or $1.28 per diluted share, a 12.3% increase from the prior year period. Adjusted EBITDA: $90.4 million, a growth of 14.5% from the same period last year. Cash and Cash Equivalents: $254.6 million at the end of the quarter. Membership Income: Increased 17.6% over the prior year period. 12-Month Renewal Rate: 90.5% as of May 31, a new all-time high. Digital Channel Sales: $99.6 million, up 26.2% year-over-year. Warning! GuruFocus has detected 8 Warning Signs with WBO:AGR. Is PSMT fairly valued? Test your thesis with our free DCF calculator. Release Date: July 09, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Net merchandise sales increased by 12.5% year-over-year, reaching almost $1.5 billion for the third quarter. Membership accounts grew by 8.6% year-over-year, with a notable increase in Platinum membership sign-ups. Digital channel sales reached a record $99.6 million, up 26.2% year-over-year, indicating strong digital engagement. The company executed a lease for its first warehouse club in Chile, marking a significant expansion into a new market. Gross margin improved by 20 basis points to 16%, driven by better margins in the non-foods category. Total SG&A expenses increased slightly to 13.3% of total revenues, primarily due to higher warehouse club and operations costs. The company recorded a $10.5 million net loss in total other expenses, mainly due to foreign currency transaction costs. Operating income in Colombia declined despite a strong sales performance, impacted by increased warehouse expenses and policy changes. Trinidad's currency conversion issues persist, affecting pricing and requiring a premium on goods in the country. Preopening expenses in Chile contributed to a 10 basis point increase in SG&A expenses, impacting overall profitability. Q: David, could you discuss the approach to expanding into Chile compared to Colombia, given the differences in market size and GDP per capita? A: David Price, CEO: Chile and Colombia are quite different in terms of market size and GDP per capita. In Chile, we are focusing on building a strong local team and ensuring a mix of local and imported goods to provide a great value proposition. We aim to learn from past experiences in Colombia, where currency devaluation impacted our operations. We plan to start selling memberships several months before opening our first club in Santiago. Q: Are locals in Chile familiar with membership clubs, and when will you start accepting memberships for the Santiago store? A: David Price, CEO: While there are no membership warehouse clubs in Chile, locals are familiar with subscription services like Uber One and Jumbo Prime. We plan to start selling memberships at least three months before opening the Santiago store, possibly earlier, as it's a new concept for the market. Q: In the quarter, you reduced Trinidad balances significantly. Was this due to an opportunity, and can we expect more of this? A: Gualberto Hernandez, CFO: We sourced more US dollars in Trinidad this quarter, reducing our nonconverted cash. We remain strategic and opportunistic in sourcing dollars, and this will continue to fluctuate based on market availability. Q: Why did operating income decline in Colombia despite strong comparable sales? A: Gualberto Hernandez, CFO: Operating income in Colombia was impacted by increased warehouse expenses and policy changes, including a reduction in allowable work hours without overtime. We are monitoring these factors closely. Q: Are you seeing better conversion conditions for Trinidad dollars to US dollars, and will this affect pricing in Trinidad? A: Gualberto Hernandez, CFO: We are not seeing significant changes in conversion conditions. We continue to charge a premium to cover costs and are exploring ways to reduce our need for US dollars in Trinidad. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in PriceSmart, Inc.? Here are five stocks we like better. PriceSmart posted strong Q3 growth, with net merchandise sales and total revenue each near $1.5 billion. Comparable sales rose 10.7% as higher ticket sizes and more transactions drove performance across Central America, the Caribbean, and especially Colombia. Membership momentum remained a key profit driver. Membership accounts topped 2.1 million, Platinum penetration climbed to 21.3%, and membership income rose 17.6% year over year, supported by a record 90.5% 12-month renewal rate. The company is expanding aggressively, highlighted by its first Chile warehouse club set for a spring 2027 opening and another club planned in Costa Rica. PriceSmart also continues to invest in digital sales, supply chain upgrades, and new distribution centers while earnings and EBITDA increased year over year. PriceSmart Stock Eyes $220 as Chile Expansion Fuels Growth PriceSmart (NASDAQ:PSMT) reported higher third-quarter sales and earnings for fiscal 2026, with management pointing to broad-based comparable sales growth, stronger membership trends and continued investment in new clubs, supply chain capabilities and technology. On the company’s earnings call, Chief Executive Officer David Price said PriceSmart delivered the results “against the backdrop of continued global uncertainty, currency volatility, evolving trade policy, and broader macroeconomic pressures.” He said the company is encouraged by business trends heading into the final quarter of the fiscal year. → SK Hynix’s Nasdaq Listing Could Reset the AI Memory Trade Why PriceSmart’s Discount May Not Last Much Longer For the quarter ended May 31, net merchandise sales and total revenue each reached nearly $1.5 billion. Net merchandise sales rose 12.5%, or 8.5% on a constant-currency basis. Comparable net merchandise sales increased 10.7%, or 6.9% in constant currency. For the first nine months of fiscal 2026, net merchandise sales reached nearly $4.3 billion, while total revenue was nearly $4.4 billion. Net merchandise sales increased 11%, or 8.6% in constant currency, and comparable net merchandise sales rose 8.8%, or 6.4% in constant currency. → 2 Short Squeezes for Summer Speculation: What the Bears Are Getting Wrong 3 ETFs That Could Benefit as Consumers Tighten Their Budgets Price said the company’s third-quarter sales growth reflected both higher ticket sizes and more transactions. The average sales ticket increased 5% from the prior-year period, while transactions rose 7.1%. The average price per item increased 6%, while average items per basket declined 1%. By region, PriceSmart reported growth across its operating footprint: Central America: Net merchandise sales increased 10.6%, or 7.7% in constant currency. Comparable net merchandise sales rose 7.9%, or 5.2% in constant currency. Caribbean: Net merchandise sales increased 6.8%, or 6.2% in constant currency. Comparable net merchandise sales rose 6.2%, or 5.6% in constant currency. Colombia: Net merchandise sales increased 35.3%, or 18.6% in constant currency. Comparable net merchandise sales rose 35.7%, or 18.9% in constant currency. → How TeraWulf’s Anthropic Deal Booted Up a $19B AI Empire Price said Colombia’s increase was driven in part by appreciation of the Colombian peso compared with the prior year, along with other operational and market-driven factors. On merchandising, the foods category grew approximately 12.5% in the third quarter, while non-foods increased approximately 12.3%. Price said the company has benefited from reconfigured warehouse club layouts that increased visibility for soft-line merchandise. He also highlighted momentum in limited-time and seasonal offerings, including apparel, housewares, small appliances and sporting goods. PriceSmart also built a broader assortment around the 2026 FIFA World Cup, including food, beverage, electronics and soccer-themed offerings, as well as digital campaigns in select markets. Membership accounts increased 8.6% year over year to more than 2.1 million. Price said Colombia posted particularly strong account growth of 11.6%, and has also been one of the company’s leading markets for Platinum Membership sign-ups. Membership income increased 17.6% from the prior-year quarter. Platinum accounts represented 21.3% of the total membership base as of May 31, up from 16.1% a year earlier. Price said Platinum upgrades have been a significant contributor to membership income growth. Membership income as a percentage of revenue was 1.7% in the third quarter, consistent with the prior-year period. The 12-month renewal rate reached 90.5% as of May 31, which Price described as a new all-time high for the second consecutive quarter. PriceSmart announced that it executed a lease during the quarter for its first warehouse club in Chile, located in Comuna Las Condes in Santiago within the Mallplaza Los Dominicos shopping center. The club is expected to open in spring 2027. Price said the Chile location will be PriceSmart’s first warehouse club in a mall setting and will serve as a foundation for what the company believes could become a “meaningful multi-club market over time.” The company has also entered into agreements to acquire land for two additional potential warehouse club sites in Chile. PriceSmart expects to spend approximately $100 million in capital expenditures on its first three Chile warehouse clubs and central offices over the next several fiscal years. Price said the company has begun building a local team in Chile, including a country general manager and local buying team, and currently has about 20 employees working from leased office space. During the Q&A portion of the call, Price said Chile differs from Colombia in several ways, including market size, income levels and population concentration. He said Santiago accounts for about half of Chile’s population and is located roughly 90 minutes from a major port. He also said the company is applying lessons learned from Colombia, including the importance of building the right local team and offering a strong mix of local and imported goods. PriceSmart also purchased land in the fourth quarter of fiscal 2026 for its 11th club in Costa Rica, in Santo Tomás de Santo Domingo in Heredia province, with an anticipated opening in spring 2027. Other previously announced clubs in the pipeline include Ciudad Quesada, Costa Rica; Montego Bay and South Camp Road in Kingston, Jamaica; and Villa Nueva, Guatemala. Once the six new clubs are open, PriceSmart said it will operate 63 warehouse clubs. Chief Financial Officer Gualberto Hernandez said total gross margin for the quarter increased 20 basis points to 16% of net merchandise sales, primarily due to improved margins in non-foods. Total revenue margins improved 30 basis points to 17.7% of total revenue, reflecting higher gross margin and strength in membership renewals and Platinum growth. Total SG&A expenses rose slightly to 13.3% of total revenue from 13.2% a year earlier, driven primarily by higher warehouse club and other operations costs, including expenses tied to the launch in Chile. Hernandez said Chile preopening expenses represented about a 10-basis-point impact to SG&A in the quarter. Operating income increased 16.7% year over year to $65.6 million, representing 4.4% of revenue compared with 4.3% a year earlier. Net income increased 12.3% to $39.7 million, or $1.28 per diluted share, from $35.2 million, or $1.14 per diluted share, in the prior-year quarter. Adjusted EBITDA for the quarter was $90.4 million, up 14.5% from $79 million a year earlier. For the first nine months of fiscal 2026, net income was $128.9 million, or $4.18 per diluted share, up from $116.3 million, or $3.80 per diluted share, in the comparable period. Adjusted EBITDA for the first nine months increased 13% to $277 million. Hernandez said PriceSmart ended the quarter with cash, cash equivalents and restricted cash totaling $254.6 million, plus approximately $113.7 million in short-term investments. He noted that as of May 31, the company had TTD 44.1 million in cash equivalents and short- and long-term investments denominated in Trinidad local currency that could not be readily converted into U.S. dollars. PriceSmart said digital channel sales reached $99.6 million in the third quarter, the company’s highest dollar volume to date. Digital sales increased 26.2% year over year and represented 6.9% of total net merchandise sales. Orders placed directly through the company’s website or app rose 20.3%, while average transaction value increased 4.4%. As of May 31, 75.8% of PriceSmart members had created an online profile, and 27.1% had made a purchase through the company’s website or app. The company also continued its technology and supply chain initiatives. Price said PriceSmart began operations at a new distribution center in Bogotá, Colombia, during the quarter, and plans to open distribution centers in Jamaica during fiscal 2026 and the Dominican Republic during fiscal 2027. PriceSmart also continues to roll out the RELEX forecasting and replenishment platform, with full implementation expected in the second quarter of fiscal 2027. In response to an analyst question about Trinidad, Hernandez said the company sourced more U.S. dollars during the quarter, helping reduce trapped cash balances, but said there had been no material change in market conditions. He said the company continues to apply a premium in its costs to cover currency constraints and is evaluating ways to reduce its need for U.S. dollars in Trinidad or access them through compliant alternatives. Looking ahead, Price said comparable net merchandise sales for the four weeks ended June 28 were up 11.2%, or 6.5% in constant currency, providing an early view into the company’s fiscal fourth quarter. PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart's value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members. The company's product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "PriceSmart Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Delivered 12.5% net merchandise sales growth driven by strong membership loyalty and a 7.1% increase in transaction volume despite global currency volatility. Attributed significant outperformance in Colombia to the appreciation of the Colombian peso and successful Platinum membership adoption, contributing 420 basis points to consolidated comparable sales. Optimized warehouse club layouts to enhance soft line visibility, resulting in improved sales performance across apparel, housewares, and small appliances. Achieved a record 12-month membership renewal rate of 90.5%, supported by the reintroduction of auto-renewal programs to reduce friction in increasingly digital markets. Strategic shift toward higher private label penetration, reaching 26.7% of sales by leveraging unique local suppliers for everyday categories like coffee and honey. Navigating labor cost headwinds in Colombia due to regulatory changes that reduced the standard work week from 44 to 42 hours, necessitating operational adjustments. Management noted early signs of more market-oriented policy shifts following recent political transitions in Colombia, Chile, and Costa Rica. Announced a $100 million initial investment phase in Chile, including a first-of-its-kind mall-based club in Santiago and land acquisition for two additional sites. Executing a multi-year supply chain transformation with new distribution centers planned for Jamaica in fiscal 2026 and the Dominican Republic in fiscal 2027. Implementing the 'Membership Omnichannel Transformation' (MOT) platform to centralize member identity and enable personalized, data-driven promotions. Full implementation of the RELEX forecasting and replenishment platform is expected by Q2 2027, following a deliberate extension to ensure local procurement accuracy. June sales preview indicates continued momentum with comparable net merchandise sales up 11.2% for the four weeks ended June 28, 2026. Recorded $10.5 million in foreign currency transaction losses, primarily due to opportunistic but costly sourcing of U.S. dollars in Trinidad. Inventory levels are intentionally trending higher to ensure a stronger in-stock position in non-food categories to capture sales momentum. Utilized non-deliverable forward foreign exchange contracts to hedge U.S. dollar-denominated inventory costs in Colombia against currency fluctuations. Trinidad remains a liquidity challenge with TTD 44.1 million in 'trapped cash' that cannot be readily converted to U.S. dollars. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management emphasized building a local management and buying team early to avoid the prolonged scaling period seen in Colombia. Noted that while Chile lacks existing warehouse clubs, the population is already accustomed to subscription-based retail services like Uber One and Jumbo Prime. Confirmed plans to start selling memberships at least three months prior to the Spring 2027 opening to establish the brand. Attributed the operating income decline to higher warehouse costs and a regulatory reduction in the allowable work week hours before overtime applies. Stated the company maintains a policy of paying a premium over minimum wage to ensure an ethical wage, impacting SG&A in the region. Confirmed no material improvement in U.S. dollar liquidity in Trinidad, necessitating continued premiums on goods to cover transaction costs. Management is evaluating internal ways to reduce the overall need for USD in Trinidad to mitigate future exchange losses.

NET MERCHANDISE SALES GREW 12.5%COMPARABLE NET MERCHANDISE SALES INCREASED 10.7%$1.28 EARNINGS PER DILUTED SHARE SAN DIEGO, July 8, 2026 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT), operator of 57 warehouse clubs in 12 countries and one U.S. territory, today announced results for the fiscal third quarter of 2026, which ended on May 31, 2026. Third Quarter Financial Results Total revenues for the third quarter of fiscal year 2026 increased 12.5% to $1.48 billion compared to $1.32 billion in the comparable period of the prior year. For the third quarter of fiscal year 2026, net merchandise sales increased 12.5% to $1.45 billion from $1.29 billion in the third quarter of fiscal year 2025. Net merchandise sales - constant currency increased 8.5% over the comparable prior-year period. Foreign currency exchange rate fluctuations impacted net merchandise sales positively by $50.6 million, or 4.0%, versus the same period in the prior year. The Company had 57 warehouse clubs in operation as of May 31, 2026 compared to 55 warehouse clubs in operation as of May 31, 2025. Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 10.7% for the 13-week period ended May 31, 2026 compared to the comparable 13-week period of the prior year. Comparable net merchandise sales - constant currency for the 13 weeks ended May 31, 2026 increased 6.9%. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales positively by 3.8% versus the same period in the prior year. The Company recorded operating income during the fiscal third quarter of $65.6 million compared to operating income of $56.2 million in the prior-year period. Net income increased 12.9% to $39.7 million, or $1.28 per diluted share, in the third quarter of fiscal year 2026 compared to $35.2 million, or $1.14 per diluted share, in the third quarter of fiscal year 2025. Adjusted EBITDA for the third quarter of fiscal year 2026 was $90.4 million compared to $79.0 million in the same period last year. Year-to-Date Financial Results Total revenues for the nine months ended May 31, 2026 increased 10.7% to $4.36 billion compared to $3.94 billion in the comparable period of the prior year. For the first nine months of fiscal year 2026, net merchandise sales increased 11.0% to $4.27 billion from $3.85 billion in the comparable prior-year period. Net merchandise sales - constant currency increased 8.6% over the comparable prior-year period. Foreign currency exchange rate fluctuations impacted net merchandise sales positively by $92.1 million, or 2.4%, versus the same period in the prior year. Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 8.8% for the 39-week period ended May 31, 2026 compared to the comparable 39-week period of the prior year. Comparable net merchandise sales - constant currency for the 39 weeks ended May 31, 2026 increased 6.4%. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales positively by 2.4% versus the same period in the prior year. The Company recorded operating income during the first nine months of fiscal year 2026 of $204.0 million compared to operating income of $179.8 million in the prior-year period. Net income increased 10.8% to $128.9 million, or $4.18 per diluted share, in the first nine months of fiscal year 2026 compared to $116.3 million, or $3.80 per diluted share, in the first nine months of fiscal year 2025. Adjusted EBITDA for the first nine months of fiscal year 2026 was $277.0 million compared to $245.1 million in the same period last year. New Market Growth - Chile The Company has executed a lease and plans to open its first warehouse club in Chile, located in Comuna Las Condes, Santiago. The club will be located within Mallplaza Los Dominicos shopping center and is anticipated to open in spring 2027. "We are excited to announce our planned entry into Chile with our first location in the Las Condes corridor, which will also be our first warehouse club located within a mall setting. This site aligns well with our membership model and long-term growth strategy. It offers strong demographics, excellent accessibility, and a retail environment that resonates with the quality and value focused Members we will serve in Chile. We anticipate a spring 2027 opening. More importantly, this club establishes the foundation for what we believe can become a meaningful multi-club market over time," said David Price, Chief Executive Officer of PriceSmart. Existing Market Expansion The Company has purchased land and plans to open its eleventh warehouse club in Costa Rica, located in Santo Tomas de Santo Domingo (Heredia), approximately four miles east from the nearest club in Heredia. The club will be built on a six-acre property and is anticipated to open in the spring of 2027. Once these two clubs and four other previously announced clubs are open, the Company will operate 63 warehouse clubs. 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 Thursday, July 9, 2026, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 715-9871 for domestic callers or +1 (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 Thursday, July 16, 2026, by dialing +1 (800) 770-2030 for domestic callers or +1 (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 providing services at low prices to PriceSmart Members. PriceSmart operates 57 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven each in Panama and Guatemala; six 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 warehouse club in each of Ciudad Quesada and Santo Tomas de Santo Domingo (Heredia), Costa Rica in August 2026 and in the spring of 2027, respectively, one new warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the fall of 2026 and winter of 2026-27, respectively, one warehouse club in Villa Nueva, Guatemala in the winter of 2027, and one warehouse club in Comuna Las Condes, Santiago, Chile in the spring of 2027. Once these six new clubs are open, the Company will operate 63 warehouse clubs. 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 and distribution center 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, including the effects of tariffs and/or international trade wars and disruptions to remittances, 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, including the timely opening of our announced warehouse clubs, 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, 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 [email protected]. Non–GAAP (Generally Accepted Accounting Principles) Financial Measures The accompanying Consolidated Financial Statements 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: 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 exchange 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 exchange rates. Comparable net merchandise sales – constant currency results exclude the effects of foreign currency translation. Refer to "Management's Discussion & Analysis – Net Merchandise Sales" and "Management's Discussion & Analysis – Comparable Net Merchandise Sales" in our Quarterly Report on Form 10-Q for the period ended May 31, 2026 for our quantitative analysis and discussion. Reconciliations between net merchandise sales – constant currency and comparable net merchandise sales - constant currency and the most directly comparable GAAP measures are included below. Net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows: Comparable net merchandise sales growth rate on a net merchandise sales - constant currency basis is calculated as follows: View original content to download multimedia:https://www.prnewswire.com/news-releases/pricesmart-announces-fiscal-2026-third-quarter-operating-results-plans-for-first-club-in-chile-eleventh-club-in-costa-rica-302821138.html

SAN DIEGO, June 4, 2026 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart", the "Company" or "we") (NASDAQ: PSMT) plans to release financial results for the third quarter of fiscal year 2026 on Wednesday, July 8, 2026, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Thursday, July 9, 2026, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll-free (800) 715-9871 for domestic callers or +1 (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 Thursday, July 16, 2026, by dialing +1 (800) 770-2030 for domestic callers or +1 (647) 362-9199 for international callers and entering replay passcode 5898084#. New Club Opening The Company opened its sixth warehouse club in the Dominican Republic in May 2026. The new warehouse club occupies a five-acre property in La Romana, approximately 73 miles east from the nearest club in the capital of Santo Domingo. We are proud to have incorporated new sustainable design practices into the club and are encouraged by its initial performance in this secondary city since its opening. The Company now operates 57 warehouse clubs in total. 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 57 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven each in Panama and Guatemala; six 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 warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the fall and winter of 2026, respectively, one warehouse club in Ciudad Quesada, Costa Rica in the summer of 2026 and one warehouse club in Villa Nueva, Guatemala in the winter of 2027. Once these four new clubs are opened, the Company will operate 61 warehouse clubs. 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 and distribution center 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, including the effects of tariffs and/or international trade wars and disruptions to remittances, 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, 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 [email protected]. View original content to download multimedia:https://www.prnewswire.com/news-releases/pricesmart-announces-earnings-release-and-conference-call-details-for-the-third-quarter-of-fiscal-2026-and-opening-of-sixth-warehouse-club-in-the-dominican-republic-302790627.html

Image source: The Motley Fool. Thursday, April 9, 2026 at 12 p.m. ET Chief Executive Officer — David Price Executive Vice President & Chief Financial Officer — Gualberto Hernandez Gualberto Hernandez: Thank you, operator, and welcome to PriceSmart Inc.'s Earnings Call for the Second Quarter of Fiscal Year 2026, which ended on February 28, 2026. We will be discussing the information that we provided in our earnings press release and our 10-Q, which were both released yesterday, April 8, 2026. Also in these remarks, we refer to non-GAAP financial measures. You can find a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP measures in our earnings press release and our 10-Q. These documents are available on our Investor Relations website at investors.pricesmart.com, where you can also sign up for e-mail alerts. As a reminder, all statements made on this conference call other than statements of historical fact, are forward-looking statements concerning the company's anticipated plans, revenues and related matters. Forward-looking statements include, but are not limited to, statements containing the words expect, believe, plan, will, may, should, estimate and some other expressions. All forward-looking statements are based on current expectations and assumptions as of today April 9, 2026. These statements are subject to risks and uncertainties that would cause actual results to differ materially, including the risks detailed in the company's most recent annual report on Form 10-K, the quarterly report of our 10-Q filed yesterday and other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These risks may be updated from time to time. The company undertakes no obligation to update forward-looking statements made during this call. Now I will turn the call over to David Price, PriceSmart's Chief Executive Officer. David Price: Thank you, Gualberto, and good morning, everyone. Thank you for joining us today. We delivered a strong second quarter. Growth was broad-based across our regions and our membership renewal rate reached an all-time high. I want to take a moment to express my sincere gratitude to every one of our employees across our 13 countries in Chile. Their dedication, hard work and passion for doing right by our members is the foundation of our success. . We delivered these results against the backdrop of continued global uncertainty, including currency volatility, evolving trade policy and macroeconomic pressures that are dynamic all multinationals face today. That being the case, our business delivers value to our members in good times and bad, and I am excited about the momentum we are carrying into the second half of this fiscal year. With that, let me walk you through highlights from the quarter. During the second quarter, net merchandise sales and total revenue reached almost $1.5 billion. Net merchandise sales increased by 9.9% or 7.8% in constant currency. Comparable net merchandise sales increased by 7.6% or 5.5% in constant currency. Two of our recent club openings, Cartago and Ketsilton-ongo are not yet included in our comparable sales numbers. During the first half of our fiscal year, net merchandise sales reached over $2.8 billion and total revenue was almost $2.9 billion. Net merchandise sales increased by 10.2% or 8.6% in constant currency. Comparable net merchandise sales increased by 7.8% or 6.2% in constant currency. During the second quarter, our average sales ticket grew by 2.2% and transactions grew 7.5% versus the same prior year period. The average price per item increased 3.3% year-over-year, while average items per basket decreased 1%. First, in Central America, where we had 32 clubs at quarter end, net merchandise sales increased 8.6% or 7.8% in constant currency. Comparable net merchandise sales increased 4.7% or 4% in constant currency. Our Central America segment contributed approximately 280 basis points of positive impact to the growth in total consolidated comparable net merchandise sales for the second quarter. Second, in the Caribbean, where we had 14 clubs at quarter end, net merchandise sales increased 4.3% or 5.3% in constant currency. Comparable net merchandise sales increased 4.2% or 5.1% in constant currency. Our Caribbean region contributed approximately 120 basis points of positive impact to the growth in total consolidated comparable net merchandise sales for the second quarter. Last, in Colombia, where we had 10 clubs opened at the end of our second quarter, net merchandise sales increased 30.5% or 13.8% in constant currency. Comparable net merchandise sales increased 31.3% or 14.7% in constant currency. Colombia contributed approximately 360 basis points of positive impact to the growth in total consolidated comparable net merchandise sales for the quarter. The increase is a result of several factors, including the appreciation of the Colombian peso, increases in member traffic and continued strengthening of our merchandise offering, which I will share more on later in my remarks. In terms of merchandise categories, when comparing our second quarter sales to the same period in the prior year, our foods category grew approximately 9.2% within foods, fresh proteins were a standout. Seafood, poultry and meat each exceeded 15% growth as we continue to elevate quality and value in those departments. Our nonfood category increased approximately 12.4%. Alongside cost efficiencies from our age of consolidation initiatives, we drove growth with strong performance in casual apparel, especially in our actewear categories and in small appliances. One of several notable programs included a mix of shorting items that were especially exciting for our members, and contributed to our focus of creating the treasure hunt experience within our clubs and online. Softlines also had a strong quarter, highlighted by our domestic white sale promotion in January, which more than doubled sales compared to the prior year. Our food service and bakery category increased approximately 12.2% and our health services, including optical, audiology and pharmacy increased approximately 13%. Membership accounts grew 7.9% year-over-year to almost 2.1 million accounts with a strong 12-month renewal rate of 90.2% as of February 28. It is especially exciting to see our membership renewal rate at an all-time high this past quarter, a clear indication that our members see the value we deliver and remain engaged with our offering. The key focus of our membership strategy is growing the Platinum membership base. Platinum is our premium tier designed for our most engaged members. These members receive an annual cash back reward on eligible purchases which drives loyalty, increases, purchasing frequency and rewards their continued business with us. By focusing on platinum growth, we're investing in our highest value member relationships. As of February 28, platinum accounts represented 19.5% of our total membership base. up from 14.5% in the same period last year. We are happy with the results of our targeted promotional campaigns and the strong renewal rate we are seeing reflects that our members believe in the value of that upgrade. We believe that a Platinum membership, combined with our strong co-branded credit card, which comes with an additional cash back on points earned ensures that participating members get the very most out of their membership with Priceline. Membership income as a percentage of revenue increased to 1.6% in the second quarter compared to 1.5% in the prior year period, driven in part by the shift toward Platinum membership. These strong results reflect our team's execution and the strategic initiatives we have underway. Now let me walk you through the progress we're making across real estate expansion, supply chain transformation and technology investments that are enhancing our ability to serve members and position the company for our next phase of growth. We are opening our sixth warehouse club in the Dominican Republic in the La Romana municipality early next month. We are excited to bring PriceSmart to a new trade area, and we are particularly proud of the sustainable design practices incorporated in its build, including solar panels, a heat reclamation water system that eliminates the need for a water heater, recycled steel in the infrastructure, a modern CO2 refrigeration system, high-efficiency plumbing fixtures and an intelligent energy management system. These features reflect our commitment to doing right by both our members and the planet. And importantly, they also reduce operating costs, making our club more efficient. We look forward to serving members in this new trade area as we continue to deepen our presence in the Dominican Republic. In Jamaica, we have 2 clubs under construction, one in Montego Bay and the other on South Camp Road in Kingston, which we expect to open in summer and winter of 2026, respectively. Construction is progressing well for both. Recovery efforts have been strong in the aftermath of Hurricane Melissa, and market indicators suggest a robust 2025, 2026 tourism season. That, combined with international relief efforts supporting the island's recovery, give us confidence in the consumer demand environment as both clubs prepare to open. Additionally, in the second quarter of fiscal year 2026, we purchased land for our tenth warehouse club in Costa Rica and SudadKasata, that's approximately 47 miles northwest from our nearest Club in San Jose. The club will be built on a 6-acre property and is anticipated to open this summer. Lastly, in the third quarter of fiscal year 2026, we leased land for our eighth warehouse in Guatemala in the municipality of approximately 13 miles south from the near club in Guatemala City. The club will be built on a 5-acre property and is anticipated to open in the spring of 2027. Although we are still waiting to obtain all permits, we are confident we will receive them and have begun with the initial earthworks for the club. Should we not receive the remaining permits we can cancel the lease. Once these 5 new clubs are open, we will operate 61 warehouse clubs in total. We believe that there is opportunity to expand our footprint in our existing markets and plan to continue to diligently procure sites, we think will strengthen our existing network of locations and meet our expected returns. Chile remains a top priority, and we are encouraged by the progress we are seeing there. We have signed executory agreements for 2 prospective club sites and are actively pursuing additional locations. In parallel, we are laying the foundation for a successful market entry. We have hired a country General Manager and local team members, established our central office and are building out the procurement and logistical infrastructure needed to operate effectively. We look forward to sharing more specific milestones as they develop. Beyond new growth, we also will begin warehouse club and parking lot expansions and remodels in fiscal year 2026 in Portware, Jamaica and Barbados. Now turning to our supply chain transformation strategy, one of the key drivers in keeping prices low is improving how we move and distribute merchandise to our clubs. Today, we operate major distribution centers in Miami, Costa Rica, Panama and Guatemala. During the second quarter, we began operations at our new distribution center in Trinidad. In addition, we plan to open distribution centers in Colombia and Jamaica during fiscal year 2026 and in the Dominican Republic during fiscal year 2027. Our goals with these distribution centers are to improve product availability, reduced lead times and lower landed costs, among other efficiency gains. Alongside these new distribution centers, we completed implementing third-party distribution centers in China to consolidate merchandise sourced in the country, which we believe will drive greater efficiency and lower costs. We continue to advance our migration to the relax forecasting and replenishment platform and remain on track to complete the full implementation in fiscal year 2026. We completed onboarding our U.S.-sourced inventory procurement process, and now we are focused on our local goods procurement process. While the implementation of a new system brings with it an initial learning curve, we are starting to realize its capabilities and expect to see the benefits of improved forecasting, product availability and operational efficiency long term. During the second quarter, we advanced our multiphase implementation of the ETA Open Global trade management platform designed to enhance automation, compliance and controls across global import and export operations. We believe this platform will strengthen trade compliance, improve data visibility to support scalable international growth once fully implemented. Turning now to other ways we are enhancing membership. On a comparable basis, excluding a reclassification of the produce category, private label penetration increased 50 basis points in the first 6 months of FY 2026, reflecting continued progress towards our long-term goal of growing this part of our business. Using our updated methodology, penetration of private label was 26.6% of total merchandise sales. Private label serves multiple strategic purposes. It allows us to offer high-quality products at lower prices than the national brands. It improves our margins, and it gives us leverage with national brand suppliers by providing a trusted alternative that keeps them competitive. Recent additions like avocado oil, fresh chicken and purified drinking water demonstrate our focus on delivering exceptional value across key everyday categories, and we have been able to pass meaningful savings to our members as reduction in commodity costs allow including price reductions on extra version, all of all of 31.5%, franchise of 8.9% and Montreal 5.8%. Our private label water program is a good example of how private label can deliver simultaneously for members for the business and for the planet. By shifting supply for our 10 Colombia clubs to a local bottler, we reduced prices by approximately 23%, roughly $2 per pack while also lowering our carbon footprint through reduced transportation and packaging made with 50% recycled content. We continue to invest in omnichannel capabilities to meet our members where they are. In the second quarter, digital channel sales reached $94.1 million, our highest dollar volume to date, up 23.4% year-over-year and representing 6.4% of total net merchandise sales. Orders placed directly through our website or app grew 10.9%, with average transaction value up 10.8%. As of February 28, 74.7% of our members have created an online profile and more than one in 4 members had made a purchase through pricesmart.com or our app, an indicator of the digital engagement we are building across our membership base. We see continued opportunity in this space, and we will keep investing to enhance the digital experience we offer our members. During the second quarter, we began migrating our mobile application to fully native iOS and Android architectures, to enhance speed, reliability and accessibility. This foundation will allow faster deployment of new features and help us deliver an outstanding member experience in our digital channels. Turning to technology investments that enhance both member and employee experience and operational efficiency. In the first quarter, we completed implementation of our new point-of-sale system, Valera across all English-speaking Caribbean markets. We have since begun testing in Central America and are making good progress on our rollout plans for Spanish-speaking markets. Early indicators show that Valera is delivering faster checkout times, improved productivity and expanded payment options for our members, tangible improvements to the in-club experience as we roll out the platform across our network. Also in the second quarter, we furthered implementation of Workday's human capital management system to replace legacy HR applications and expect to go live by end of the third quarter. This upgrade is designed to enhance the employee experience with modern user-friendly tools while improving processes and strengthening compliance. We will also provide scalable integrated data layer to support our future growth. Before I turn it over to Gualberto, I want to address a few additional topics. First, regarding U.S. tariffs. Approximately half of the merchandise we sell is sourced locally, reasonably within Latin America. The other half is sourced from the U.S., Europe, China and globally. In addition, on February 20, 2026, the U.S. Supreme Court invalidated tariffs imposed under the International Emergency Economic Powers Act. While the landscape of tariffs continues to evolve, it is important to note that we consolidate many of these international products through our Miami distribution center. They are shipped in bond and are not nationalized in the United States. We also take advantage of free trade agreements where we can. Additionally, we've been leveraging our expanding distribution center network and China consolidation capabilities to shift direct to market where feasible. In short, U.S. import tariffs do not apply to most of our merchandise. And as a result, we are not owed a refund from the U.S. government due to the most recent Supreme Court ruling. We continue to monitor the evolving trade policy environment. But to date, current U.S. tariff policy has not directly impacted our cost structure or business operations. We are also monitoring developments with respect to the ongoing military conflicts with Iran. We anticipate potential impacts to transportation costs or delays in the shipment or delivery of our products. The cost of fuel is a significant component of transportation cost. If our vendors or any raw material suppliers on which our vendors rely suffer prolonged manufacturing or transportation disruptions, our ability to source product to be adversely impacted, which would adversely affect our business. Also, fuel prices in some of our markets have increased significantly, which may reduce consumer demand impacting frequency and purchasing power. However, we are monitoring and we'll do what we can to ensure we continue to provide the value we are known for in our communities. Lastly, I want to provide a brief preview of our March sales and some insight into our Semana Santa results. Note that Semana Santa this year started late March, early April versus mid- to late April last year. So the comparability and growth for March will be skewed higher. However, our comparable net merchandise sales for the 4 weeks ended March 29, 2026, grew 12.3% in U.S. dollars and 9.2% in constant currency. I'm incredibly proud of the exciting assortment we offered in the outstanding preparation and execution by our merchandising, supply chain and operation teams and also all who are involved at the company to make this year's Semana Santa a success. With that, I'll turn it over to Gualberto, who'll walk you through the financial results. Gualberto Hernandez: Thank you, David. Continuing with the income statement. Total gross margin for the quarter as a percentage of net merchandise sales increased 50 basis points to 16.1% versus Q2 last year. The increase is mainly driven by shifts in product mix, primarily within our nonfood segment and cost savings we are starting to realize from our Asia consolidation efforts when compared to the same period in the prior year. Total revenue margins improved 60 basis points to 17.7% of total revenue from 17.1% in the same period last year. This was mainly driven by the increase in our warehouse sales margins and good results in membership renewals and platinum growth, as mentioned before by David. On overhead costs, Total SG&A expenses increased to 12.7% of total revenues for the second quarter of fiscal year 2026 compared to 12.4% for the second quarter of fiscal year 2025. The 30 basis point increase is primarily related to the appreciation of the peso in Colombia and its effect on our warehouse expenses. Our continued investments in technology and executive officer compensation not incurred in previous years. Operating income for the second quarter of fiscal year '26 increased 15.6% from the same period last year to $75.4 million. Operating income for the first 6 months of fiscal year 2026 increased 12% from the same period last year to $138.3 million. Below the operating income line, in the second quarter of fiscal year 2026, we recorded an $8.7 million net loss in total other expense, an increase from a $5.1 million net loss in the same period last year. The primary cost of the increase is due to foreign currency-related losses, predominantly from unrealized noncash losses related to the revaluation of the net U.S. dollar monetary asset position we have in Costa Rica as there was a significant appreciation of the Costa Rica colon in the month of February. This loss was partially offset by lower foreign currency exchange transaction costs during the quarter and for the first 6 months of the fiscal year in Trinidad as we executed fewer sourcing transactions. However, in March and subsequent to quarter end, we have executed and will be sourcing more foreign currency and incur additional transaction costs for the remaining part of the fiscal year. When and how many transactions we executed in any given period is dependent on various factors, including available trading currencies and the cost to convert. Lastly, in light of increased volatility in the exchange rates, we are also actively exploring options to expand our hedging program in select markets. In terms of income tax, our effective tax rate for the second quarter of fiscal year 2026 came in at 26.4%, a slightly favorable result versus 27.2% a year ago. For the 6 months ended February 28, 2026, our effective tax rate was 27.1%, almost in line with a 26.9% effective tax rate of the comparable prior year period. Finally, net income for the second quarter of fiscal year 2026 was $49.1 million or $1.62 per diluted share, an increase of 11.7%, up from $43.8 million or $1.45 per diluted share in the second quarter of fiscal year 2025. Adjusted EBITDA for the second quarter of fiscal year 2026 was $99.7 million, compared to $87 million in the same period last year, a growth of 14.6%. Net income for the first 6 months of fiscal year 2026 was $89.3 million or $2.91 per diluted share, an increase of 9.4%, up from $81.2 million or $2.66 per diluted share in the first 6 months of fiscal year 2025. Adjusted EBITDA for the first 6 months of fiscal year 2026 was $186.6 million compared to $166.1 million in the same period last year, a growth of 12.3%. Moving on to our balance sheet. We ended the quarter with cash, cash equivalents and restricted cash totaling $195.1 million, plus approximately $149.7 million of short-term investments, typically held in certificates of the past. When reviewing our cash balances, it's important to note that as of February 28, 2026, we had $76.9 million of cash, cash equivalents and short-term investments denominated in local currency in Trinidad, which we could not really convert into U.S. dollars. Turning to cash flow. Net cash provided by operating activities reached $133.3 million for the first 6 months of fiscal year 2026, an increase of $6.9 million versus the prior year period. The increase is primarily driven by a $10.6 million increase in net income adjusted for noncash items and a $5.3 million overall net positive changes in other various operating assets and liabilities. This is partially offset by shifts in working capital, mainly due to higher overall inventory balances, which used $9 million of cash in operating activities. Net cash used in investing activities increased by $89.9 million for the first 6 months of fiscal year 2026 compared to the prior year, primarily due to net changes in short-term investments of $59.6 million. a $25.5 million increase in property and equipment expenditures and an $11.9 million increase in purchases of long-term investments. Net cash used in financing activities increased by EUR 21.7 million for the first 6 months of fiscal year 2026 compared to the prior year, primarily due to a $15.9 million increase in net repayments of short-term bank borrowings, a $3.1 million increase in the purchase of treasury stock upon vesting of restricted stock awards to cover employee tax withholding obligations and a $2.3 million increase in cash dividend payments. In February, we declared our annual cash dividend, which in total is $1.40 per share, or an 11.1% increase over last year's dividend. That's 5 consecutive years of increases and double what we declared per share in 2021. This is another signal of the strength of our cash-generating abilities. Our priority remains executing consistently and responsibly for our long-term success. We believe our established processes, diversified footprint and experienced teams provide a solid foundation as we manage the business day to day with that long-term perspective, guiding us forward. We appreciate the continued support of our members, employees and shareholders, and we thank our teams for their ongoing efforts. Thank you for joining our call today. I will now turn the call over to the operator to take your questions. Operator, you may now start taking our callers' questions. Operator: [Operator Instructions] Your first question comes from the line of Jon Bretz from Kansas City Capital. Jon Braatz: A couple of questions. First of all, David, when you think of -- it's been a couple of quarters since you first began talking about Chile and the media or the press in Chile has wrote a number of published number of articles about where your stores might be and some of the people you hire, but -- is it taking a little bit longer to sort of the eyes and cross the Ts and get permits and all this other stuff to begin construction of stores? Is it just a little bit longer than you would have anticipated? David Price: Thanks for the question, Jon. Yes, you're right about the media. It's been really interesting to observe just how active the press media is in the business news media is in Chile versus our other markets. It's been something that surprised us, quite frankly. And it's not necessarily a bad thing, but certainly, the press will write a lot of things, whether or not they're able to validate that they're true. They still will publish, and that's something that's kind of been -- But we haven't seen that things are taking any longer necessarily than any other market. The process actually compared to some of our other markets is better in the sense that it's much more clear, in terms of the quality of the institutions and the steps that you have to go through that good permits. But we're quite conservative in terms of when we announce openings. We typically announce once we have permits in hand and we don't. So we haven't announced. And so that's been our policy and our approach. And so we try to be consistent in how we approach announcing new openings. Jon Braatz: Okay. Two other questions. David, a lot of conversations surrounding remits in your markets. Have you seen any impact because of that? And then secondly, I was distracted a little bit when you were talking about the situation in the Mid East. Beyond the higher cost of energy, what was your comments about maybe supply chain impact if there is? David Price: Sure, sure. Thank you for the question. So in terms of remittances, we haven't seen any visible changes in consumption as a result of changes in remittances. And in fact, the data has been fairly clear that the remittances are still flowing to the markets at rates that are not that different from what has occurred in the past, which is interesting actually because one would think that there maybe would be bigger changes. But I think these are patterns that have been around for many years, and they're probably quite difficult to change. So we haven't seen any changes in terms of consumption patterns among our members as a result of changes On the topic of what's happening in Iran and Strait of Hormuz, from a supply chain standpoint, there's a lot of -- I mean, it's still somewhat early in the For sure, we're seeing there are changes in fuel costs around the globe. And that's something that I think all retailers and all distributors are dealing with. And I think it hits in different ways, and we have the ocean component via the U.S. domestic component. And so as it fuels is a large part of transportation of the cost. And so certainly, that's a piece of something that we're seeing shift. Otherwise, we haven't had major supply chain disruption at this point because a lot of the merchandise that's coming into our markets is not coming by -- well, not coming by way of the Strait. But besides that, there's some POs, a delay here and there, but nothing that's really significant. I mean -- which is good, but that doesn't mean it can't happen. I mean I think there's still yet to be seen all of the impacts of this conflict. And I think even after the conflict resolves, there still may be impacts. And there was an interesting article I read in the New York Times just last night about World Word I and the impact that happened many years after. And I recommend you read it because it got me thinking about that could happen here for sure. And so we're just trying to remain as vigilant as we can but also as flexible as we can to have a resilient supply chain. I think the work that we're doing with consolidation and then beginning to diversify how we procure products, it's all good because as the world becomes more volatile, the more resilient and diverse our supply chain is the better. Gualberto Hernandez: And we have run some simulations. This is Gualberto, Jon. We have run some simulations and are actively looking into this. There will be some smaller impacts in terms of financials, but nothing really material or nothing or... David Price: Not at this point. Gualberto Hernandez: Yes. Operator: Your next question comes from the line of Héctor Maya from Scotiabank. Héctor Maya López: Could you please share more details on the drivers of the higher gross margin, particularly if this is more structural or temporary? And if there will be some investments going forward? I mean I saw you had a better mix and solid membership income, but just wanted to understand a bit more about this. Gualberto Hernandez: Yes. Thank you for the question, Héctor. This is Gualberto. We -- there are a couple of variables that usually, it's not only one single, but we have benefited from a shift in mix by category. Foods went a little bit down in terms of say, participation versus fresh that has been helped with better margins, debase of that is on nonfood hard lines. First, that's an interesting play in harness versus softline improved the margin itself versus prior versus the same quarter in the last year, but still below the margin of Softline. Softline went up versus also a mix change there that ahead. We have started to benefit also from the Asia consolidation efforts, so there are savings in shipping costs have one routes as we are keeping the Miami saving and handling fees. So that all was in favor of the margin improvement this quarter and year-to-date. Héctor Maya López: Also, given that Central America and the Caribbean are highly dependent on remittances and all imports, how are you preparing for a potential macro challenge there? I mean at least on the side of remittances, I understand that we haven't seen material changes in the region just yet, but we have seen of central banks in Central America coming out with projections that point to a deceleration for 2026 in remittances due to declining integration trends to the U.S. and the 1% tax remittances that started this year. So basically, how would you say that you could be preparing for potential risks on this? Gualberto Hernandez: Well, I think we have some type of natural protection to that also because of the profile of our members that are less reliant on remittances. So that gives us some type of natural protection. But we don't this means, I mean, you made a very good point with we don't dismiss the risk and we're watching carefully. But again, there are only projections so far. We're tracking them. as David explained, we haven't really seen anything. As you know, the actual data about has some material lags in terms of how we retest. But I would just repeat what David said. We have not seen anything yet. We believe we have some type of network protection against the heating remittances, and we will continue following this closing. David Price: And maybe -- Héctor, I'll add one other thing, which is our -- we're one of our kind of -- the way we think about our business, one of our missions is to keep driving down costs supply chain and becoming more competitive, so we can offer better and better value to our members. And I think that's a natural -- also a natural way to protect against changes in remittance. I mean we can only do what we can do, right? I mean if there's macro swings happening, we just have to run our business as well as we can. And so as we build a better supply chain that's more efficient and more efficient than our competitors, particularly in those markets, that's going to help us continue to drive up value for the member drive market share, drive sales. And so that, I think, is the best thing we can do. Héctor Maya López: I'm the add on a promise we noticed that one plant cloud in Costa Rica and one in Jamaica have earlier opening dates now. So just wondering what was behind that? And also on Chile, if you could give us an update on not so much in progress because I understand that it is something that you see as going forward as you were expecting. But progress on how much you're learning so far from the potential opportunities in that market? And I mean, aside from the media, the media behavior that you haven't noticed, what other learnings that you're getting from this new market? David Price: Sure. Thank you. On the topic of the accelerated club opening, I always challenge our team to find ways to open earlier because every day that we save of time that we open is the day that we started getting our investment paid off and creating a good return for our shareholders. So they get a lot of pressure for me to figure out ways to go faster. But besides that, we actually received permits a little earlier than we expected. And so that's probably the most significant thing. I mean, because we only do -- we're always trying to learn how to be better at constructing these buildings, but certainly getting permits are help. So... On Chile, we're learning a lot. We're learning a lot. We've had a number of different kind of delegations of buyers that have gone down. I was down there a couple of times last year and I'll be down again a few times this year, I'm sure. And so I mean there's all sorts of things that we could dig into, but it's a very advanced market from the standpoint of both the consumer, but then also on the supply chain side. I mean distribution space is high quality, high quality is in the United States, and processing capabilities for fresh products are very high quality in terms of chicken and produce and otherwise. I think there's a desire for international goods. We see it the other retailers in the market the floor and the other retailers that they're carrying a lot of USBs and U.S. and European products, certainly German products, we see a lot of the market as well, and there's -- the shopping experience occurs in a lot digitally, but not only. I mean it's a very digitalized market, as I mentioned on prior calls, it's the highest penetration of Internet in the region, all of Latin America. So we're learning a whole lot. I mean, infrastructure is a whole lot better than our other markets in terms of mobility, right? There's toll roads that are quite robust to go from Visa Cuda, Sachiubeo or around the city, I mean, there's the coolants partially on the ground. For me, as someone that spends a lot of my professional and personal life in Central America is going to Santiago for the first time was really eye opening. I mean, tremendously eye opening in terms of how sophisticated the market is and the capabilities there. So we're learning a whole lot, and we believe that we have something that would be very desirable and valuable for the consumer in the marketplace. And so we're going to do our best. Operator: And that concludes our question-and-answer session. I will now turn the call back over to David Price for closing remarks. David Price: Thank you for joining the call, everyone, and have a great day. Thank you very much. Operator: This concludes today's conference call. Thank you for your participation. You may now disconnect. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. PriceSmart (PSMT) Q2 2026 Earnings Transcript was originally published by The Motley Fool

SAN DIEGO, April 29, 2026 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT), a leading operator of membership warehouse clubs in Central America, the Caribbean, and Colombia, today announced the release of its Fiscal Year 2025 Sustainability Report, outlining continued progress across environmental, social, and governance priorities across its operations in the United States, 12 countries, and one U.S. territory. "Sustainability is part of how we do business every day, supporting long-term growth and value creation. We remain focused on continuous improvement and responsible practices across our operations," said David Price, Chief Executive Officer of PriceSmart. "This year's progress demonstrates how sustainability and business performance go hand in hand." Key Highlights from the FY2025 Sustainability Report Implemented an origin consolidation initiative in two cities in Asia, enabling direct shipments to distribution centers in Panama, Costa Rica, and Guatemala and reducing delivery times, handling, and carbon emissions. Introduced a formal Code of Ethics for Vendors, applicable to all suppliers, contractors, and service providers, reinforcing transparency and accountability. Expanded renewable energy adoption, with 48 of 56 warehouse clubs powered by solar energy. Solar installations generated more than 36,000 megawatt hours of clean electricity, reducing reliance on conventional energy sources, and lowering emissions. Launched Women@PriceSmart, a new program focused on advancing female employees' personal and professional development, reaching nearly 9,000 total participant engagements and providing training, mentorship, and leadership development opportunities. FY2025 marked the third year of our Food for All campaign, and once again set a new record, bringing in more than 458 metric tons of food and providing the equivalent of more than 1 million meals in support of communities in 11 countries. PriceSmart's FY2025 Sustainability Report reflects the company's continued focus on integrating sustainability into core business strategy, guided by its values of integrity, excellence, and community. As PriceSmart approaches its 30th anniversary, the Company remains dedicated to advancing sustainability initiatives and delivering long term value for its shareholders. Access the full Sustainability report at https://investors.pricesmart.com under the ESG tab. 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 May 2026, one warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the summer and winter of 2026, respectively, one warehouse club in Ciudad Quesada, Costa Rica in the summer of 2026 and one warehouse club in Villa Nueva, Guatemala in the spring of 2027. Once these five new clubs are open, the Company will operate 61 warehouse clubs. 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 and distribution center 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, including the effects of tariffs and/or international trade wars and disruptions to remittances, 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, 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 [email protected]. View original content to download multimedia:https://www.prnewswire.com/news-releases/pricesmart-announces-the-release-of-its-fiscal-year-2025-sustainability-report-highlighting-key-achievements-on-sustainability-302756557.html

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. PriceSmart (PSMT) is back in focus after its fiscal Q2 2026 earnings update, which showed higher revenue, net merchandise sales, and net income, as well as record membership renewal rates and a higher dividend. See our latest analysis for PriceSmart. The Q2 earnings beat and dividend increase have arrived alongside a 27.33% year to date share price return and a 72.91% 1 year total shareholder return. This suggests positive momentum as the market reassesses PriceSmart’s growth and risk profile. If this kind of move has your attention, it might be a good moment to broaden your watchlist and check out 18 top founder-led companies With earnings ahead of expectations, rising dividends, and the share price now above the average analyst target, you have to ask yourself: is PriceSmart still undervalued, or is the market already accounting for much of the company’s potential growth? Analysts put PriceSmart’s fair value at $143 per share, which sits below the recent $157.03 close and frames the latest rally as potentially ahead of those assumptions. Read the complete narrative. Interested in what kind of revenue pace, margin lift, and future earnings multiple need to line up for that $143 figure to stack up against today’s price? The narrative sets out a detailed path that ties membership income, private label penetration, and club expansion into one valuation story, but keeps some of the key assumptions under the hood until you read it in full. Result: Fair Value of $143 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, there is still real execution risk, with FX and liquidity pressures in markets like Trinidad and Honduras, and rising technology and logistics spending potentially squeezing margins. Find out about the key risks to this PriceSmart narrative. With the mix of enthusiasm and caution in this update, it makes sense to look at the full picture yourself and not just the headline numbers. To weigh both sides of the story, take a close look at the 2 key rewards and 1 important warning sign If PriceSmart is on your radar, do not stop there. Broaden your opportunity set now so you are not late to the next move. Target companies that combine quality and value by scanning through 58 high quality undervalued stocks to see which stocks currently line up with those filters. Prioritise sleep at night potential by checking 72 resilient stocks with low risk scores for companies with more resilient risk profiles. Hunt for future standouts early by using the screener containing 23 high quality undiscovered gems before these ideas become crowded trades. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include PSMT. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]