SAN
DIEGO, Sept. 5, 2023 /PRNewswire/ -- PriceSmart,
Inc. (NASDAQ: PSMT) today announced that on September 1, 2023 the Company opened its newest
warehouse club in Medellín, Colombia, bringing the total number of
warehouse clubs in operation by the Company to 52. The El Poblado
club is the second club in Medellín and tenth overall club in
Colombia and was constructed on a
three-acre property in the El Poblado area.
Fourth Quarter Conference Call Details
PriceSmart plans to release financial results for the fourth
quarter of fiscal year 2023 on Monday,
October 30, 2023 after the market closes. PriceSmart
management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Tuesday, October 31, 2023 to discuss the
financial results. Individuals interested in participating in the
conference call may do so by dialing toll free (888) 259-6580 or
(416) 764-8624 for international callers and asking to join the
PriceSmart earnings call. A digital replay will be available
shortly following the conclusion of the call through November 7, 2023 by dialing (877) 674-7070 for
domestic callers or (416) 764-8692 for international callers and
entering replay passcode 496180#.
About PriceSmart
PriceSmart, headquartered in San
Diego, owns and operates U.S.-style membership shopping
warehouse clubs in Latin America
and the Caribbean, selling high
quality merchandise and services at low prices to PriceSmart
Members. PriceSmart operates 52 warehouse clubs in 12 countries and
one U.S. territory (ten in Colombia; eight in Costa Rica; seven in Panama; five in the Dominican Republic and Guatemala, four in Trinidad; three in Honduras and El
Salvador, two in Nicaragua
and Jamaica; and one each in
Aruba, Barbados and the United States Virgin Islands). In addition,
the Company plans to open a warehouse club in Escuintla,
Guatemala in November 2023 and a warehouse club in
Santa Ana, El Salvador in early 2024. Once these two new
clubs are open, the Company will operate 54 warehouse clubs.
This press release may contain forward-looking statements
concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we")
anticipated future revenues and earnings, adequacy of future cash
flows, omni-channel initiatives, proposed warehouse club openings,
the Company's performance relative to competitors and related
matters. These forward-looking statements include, but are not
limited to, statements containing the words "expect," "believe,"
"will," "may," "should," "project," "estimate," "anticipated,"
"scheduled," "intend," and like expressions, and the negative
thereof. These statements are subject to risks and uncertainties
that could cause actual results to differ materially including, but
not limited to: various political, economic and compliance risks
associated with our international operations, adverse changes in
economic conditions in our markets, natural disasters, volatility
in currency exchange rates and illiquidity of certain local
currencies in our markets, competition, consumer and small business
spending patterns, political instability, increased costs
associated with the integration of online commerce with our
traditional business, whether the Company can successfully execute
strategic initiatives, our reliance on third party service
providers, including those who support transaction and payment
processing, data security and other technology services,
cybersecurity breaches that could cause disruptions in our systems
or jeopardize the security of Member or business information, cost
increases from product and service providers, interruption of
supply chains, novel coronavirus (COVID-19) related factors and
challenges, exposure to product liability claims and product
recalls, recoverability of moneys owed to PriceSmart from
governments, risks associated with our leadership transition, and
other important factors discussed in the Risk Factors section of
the Company's most recent Annual Report on Form 10-K, and other
factors discussed from time to time in other filings with the SEC,
which are accessible on the SEC's website at www.sec.gov, including
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Forward-looking statements speak only as of the date that they are
made, and the Company does not undertake to update them, except as
required by law.
For further information, please contact Michael L. McCleary, EVP, Chief Financial
Officer and Principal Accounting Officer (858) 404-8826 or send an
email to ir@pricesmart.com.
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SOURCE PriceSmart, Inc.