#United States #San Diego #Costa Rica #Chile #PriceSmart

PriceSmart Reports Impressive Q3 2026 Growth and Expansion Plans

PriceSmart, Inc. (NASDAQ: PSMT), a prominent operator of membership-based warehouse clubs across Latin America and the Caribbean, has announced noteworthy financial results for the third quarter of fiscal year 2026, concluding on May 31, 2026. The company has demonstrated robust growth, with net merchandise sales surging by 12.5%, totaling approximately $1.45 billion, compared to $1.29 billion in the same period the prior year.

This financial progress highlights PriceSmart's adaptability in navigating the retail landscape, even amidst fluctuating currency exchange rates that positively contributed an estimated $50.6 million to net sales. The company recorded a 10.7% increase in comparable net merchandise sales for stores open for over 13 ½ months, demonstrating strong consumer loyalty and demand for its value-focused merchandise.

Year-to-Date Financial Growth

In the first nine months of fiscal year 2026, PriceSmart achieved a total revenue of $4.36 billion, marking a 10.7% increase from the $3.94 billion reported in the prior nine months. The growth trajectory is further evidenced by a net income of $128.9 million, translating to $4.18 per diluted share, an increase from the previous year's $3.80 per share.

Alongside these impressive financials, the company has announced plans for strategic expansion into new markets. Notably, PriceSmart intends to establish its first warehouse club in Chile, set to open in the spring of 2027. This first location will be in Comuna Las Condes, inside the Mallplaza Los Dominicos shopping center, marking a significant milestone for the retailer as it ventures into a new geographic area.

David Price, CEO of PriceSmart, expressed enthusiasm regarding the Chilean expansion, indicating that this new venue aligns with the company’s growth strategy and reflects its commitment to providing quality and value to its members. The club is strategically located in an area with strong demographics and excellent accessibility, responding well to the shopping preferences of local consumers.

Expansion in Costa Rica

In addition to its Chilean venture, PriceSmart is gearing up to open its eleventh warehouse club in Costa Rica, specifically in Santo Tomas de Santo Domingo, Heredia. This new location, approximately four miles from the nearest club, is also expected to open in spring 2027 on a six-acre property, further solidifying PriceSmart’s presence in Central America.

Once these two new clubs open, along with additional previously announced locations, PriceSmart's total will rise to 63 operational clubs across its markets. This anticipated growth showcases the company's commitment to serving its members by expanding accessibility and enhancing the shopping experience.

Conference Call Announcement

To discuss these financial results in greater detail, PriceSmart's management will host a conference call on July 9, 2026. Interested investors and stakeholders can participate by dialing in at the scheduled time. This initiative reflects PriceSmart's transparency and dedication to keeping its investors informed.

About PriceSmart

Headquartered in San Diego, California, PriceSmart operates membership shopping warehouse clubs in 12 countries, providing high-quality products along with essential services at competitive prices. With 57 clubs currently operational, the company continues to adapt to market demands and economic conditions to ensure both growth and member satisfaction.

This growth story of PriceSmart not only exemplifies the resilience and adaptability of businesses in today's dynamic market but also positions the company as a significant player in the retail landscape of Latin America and the Caribbean, particularly with its forward-thinking expansion strategies into new and existing markets.