PriceSmart, Inc. (NASDAQ: PSMT) is the largest operator of membership warehouse clubs in Central America and the Caribbean, and has recently entered the South American region with clubs in Colombia. We serve over 3 million cardholders at 40 owned and operated warehouse clubs in 12 countries and one U.S. territory. PriceSmart was pioneered by Sol and Robert Price, founders of The Price Club; Robert Price is Chairman of the Board. PriceSmart’s membership club model is similar in many respects to U.S. clubs like Costco and Sam’s, with some differences: • Smaller store size (50,000 to 75,000 sq. ft.) to align with the size of the markets in which we operate • Lower membership fees – average $35.00 • Merchandise tailored to local preferences as well as for retail and wholesale customers Currently PriceSmart warehouse clubs can be found in the following countries: Colombia (7), Costa Rica (7), El Salvador (2), Guatemala (3) Honduras (3), Nicaragua (2), Panama (5), Aruba (1), Barbados (1), Dominican Republic (3), Jamaica (1), Trinidad and Tobago (4), and U.S. Virgin Islands (1). Online shopping is available to our members in all countries. PriceSmart believes it is well positioned to profit from the growth in developing markets due to its purchasing power and experience with membership warehouse clubs in these areas.
Pricesmart Inc is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices. The company is headquartered in San Diego, California, United States, and operates stores in Latin America and the Caribbean, with Central America contributing over half of its net warehouse club sales. The company’s revenue consists of net warehouse club sales from merchandise sales, membership income from annual membership fees, export sales, and other income, with net warehouse club sales accounting for the majority of the company’s total revenue.