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 41 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 is based in San Diego, California with a distribution facility in Miami, Florida.
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 (33,000 to 62,000 sales floor 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 (4), Jamaica (1), Trinidad and Tobago (4), and U.S. Virgin Islands (1).
PriceSmart has acquired property and is currently developing warehouse clubs in Santiago, Panama and Santo Domingo, Dominican Republic that are expected to open in the spring of 2019. The Company has also acquired property in San Cristobal, Guatemala, where it expects to open its 44th warehouse club in the fall of 2019. Additionally, PriceSmart through its Aeropost subsidiary provides logistics, payment and ecommerce services in Latin America and the Caribbean. Aeropost currently serves customers in 38 countries with Costa Rica, Trinidad and Jamaica as its largest markets.
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.
Introduction to PriceSmart