PRICESMART INC

PriceSmart, Inc. (NASDAQ: PSMT) operates a membership-based warehouse club business serving Central America, the Caribbean, and Colombia through its website at www.pricesmart.com. Founded in 1996 by Sol and Robert Price, the creators of Price Club, PriceSmart has established itself as a trusted retail brand with over two million membership accounts and approximately four million cardholders across its markets.

As of August 31, 2025, PriceSmart operates 56 warehouse clubs and employs over 12,000 people, with approximately 96 percent of its workforce located outside the United States. The company maintains a geographically diverse footprint across thirteen markets, including Colombia, Costa Rica, Panama, Guatemala, Dominican Republic, Trinidad, El Salvador, Honduras, Nicaragua, Jamaica, Aruba, Barbados, and the U.S. Virgin Islands, with planned expansion into Chile.

The company's merchandise portfolio spans multiple categories: consumables representing 47 percent of net merchandise sales, fresh foods at 31 percent, hardlines at 11 percent, softlines at 6 percent, food service and bakery at 4 percent, and health services at 1 percent. PriceSmart sources approximately half its merchandise from Latin American and Caribbean suppliers, with the remainder sourced globally, particularly from the United States. The company's private label "Member's Selection" brand represented 28.1 percent of total merchandise sales in fiscal 2025.

PriceSmart's business model emphasizes low operating costs through efficient distribution, limited SKU selection with large pack sizes, and membership-based revenue generation. Membership fees contributed 36.8 percent of operating income in fiscal 2025. The company offers three membership tiers: Diamond, Business, and Platinum, with Platinum membership accounting for 17.9 percent of the membership base as of August 31, 2025.

The company operates regional distribution centers in Miami and Costa Rica, complemented by local distribution centers in multi-club markets. Digital channel sales reached $306.7 million in fiscal 2025, representing 6.0 percent of total net merchandise sales and reflecting a 21.6 percent year-over-year increase. PriceSmart continues expanding its wellness services, including optical, pharmacy, and audiology departments across multiple locations.