Pricesmart Inc

PSMT

Equity

ISIN US7415111092 / Valor 708539

NASDAQ (2025-04-04)

USD 85.23-1.75%

Pricesmart Inc
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About company

PriceSmart Inc., established by Sol and Robert Price, the founders of The Price Company which later merged with Costco, is a leading operator of membership warehouse clubs in Central America, the Caribbean, and Colombia. Since becoming a publicly traded company in 1997, PriceSmart has expanded its footprint to operate 54 warehouse clubs across 12 countries and one U.S. territory, with plans to open an additional club in Cartago, Costa Rica in early 2025. The company serves over 3 million cardholders, offering a unique retail model that emphasizes value through a carefully selected mix of global and local merchandise. PriceSmart aims to drive growth and enhance member experience by focusing on new real estate developments, including clubs and distribution centers, and by improving its offerings with wellness services such as optical, pharmacy, audiology, and private label products. Additionally, PriceSmart is committed to leveraging technology to develop an omni-channel presence, including enhancing its digital platforms to boost e-commerce sales, thereby providing a comprehensive shopping experience for its members.

Summarized from source with an LLMView SourceSector: Consumer Services

Total Revenue Growth

In the fourth quarter of fiscal year 2024, PriceSmart Inc. reported a total revenue increase of 9.6%, reaching $1.23 billion compared to $1.12 billion in the same period of the previous year. This growth was driven by a significant rise in net merchandise sales, which grew by 9.5% to $1.19 billion.

Comparable Sales Performance

PriceSmart Inc. experienced a 6.2% increase in comparable net merchandise sales for the 51 warehouse clubs that have been open for more than 13½ months during the fourth quarter of fiscal year 2024. This growth was slightly impacted by foreign currency exchange rate fluctuations, which contributed positively by 0.2%.

Operating and Net Income

The company recorded an operating income of $49.2 million in the fourth quarter of fiscal year 2024, a significant increase from $32.1 million in the same quarter of the previous year. Net income also saw a substantial rise, increasing by 89.0% to $29.1 million, or $0.94 per diluted share, compared to $15.4 million, or $0.49 per diluted share, in the fourth quarter of fiscal year 2023.

Year-to-Date Financial Performance

For the fiscal year ended August 31, 2024, PriceSmart Inc. reported a total revenue increase of 11.4%, amounting to $4.91 billion compared to $4.41 billion in the prior year. Net merchandise sales for the year grew by 11.2% to $4.78 billion, with foreign currency exchange rate fluctuations positively impacting sales by 2.6%.

Future Expansion Plans

PriceSmart Inc. announced plans to open its seventh warehouse club in Guatemala, located in Quetzaltenango, by the summer of 2025. This expansion is part of the company's strategy to increase its presence in Latin America and the Caribbean, bringing the total number of warehouse clubs to 56 once the new club is operational.

Summarized from source with an LLMView Source

Key figures

3.48%1Y

7.07%3Y

58.7%5Y

Performance

25.7%1Y

28.1%3Y

31.8%5Y

Volatility