SAN
DIEGO, June 3, 2024 /PRNewswire/
-- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ:
PSMT), operator of 54 warehouse clubs in 12 countries and one U.S.
territory, today announced the publication of its fiscal year 2023
Environmental and Social Responsibility (ESR) report.
This comprehensive report provides information on PriceSmart's
commitment to sustainability and positively impacting communities
and the environment. Through detailed insights into the Company's
programs and initiatives, the report describes PriceSmart's
dedication to fostering environmental stewardship, social
responsibility, and strong corporate governance across its
operations.
Key Achievements and Initiatives:
- Our People: PriceSmart is providing employees with
opportunities for development to enable each team member to learn
and grow.
- Global Recognition: PriceSmart has been honored as one
of Newsweek's Top 100 Global Most Loved Workplaces in the U.S. for
two consecutive years, 2022 and 2023.
- Energy and Waste: Across the Company's facilities,
PriceSmart is seeking to minimize energy usage, maximize solar
energy production, and expand recycling stations, in applicable
markets and locations.
- Sustainable Supply Chain: The Company is nearshoring its
supply chain, expanding its network of distribution centers, and
continuing to optimize the flow of goods throughout the
distribution network.
- PriceSmart Foundation Impact: The Company is
committed to empowering communities by supporting youth
development, education, and fostering economic opportunities.
Additionally, PriceSmart Foundation has placed a significant
emphasis on accelerating growth for women-led businesses in
Central America.
- Expanding Volunteerism: The Company is expanding its
volunteering program which encourages employees to engage in
community service.
PriceSmart encourages stakeholders to explore the full fiscal
year 2023 ESR report to gain a deeper understanding of the
Company's efforts and achievements in environmental and social
matters, including our people, supply chain and governance. The
report is a testament to PriceSmart's dedication to making a
long-lasting positive difference in the world.
Access the full ESR report at https://investors.pricesmart.com
under the ESG tab.
Third Quarter Conference Call Details
PriceSmart plans to release financial results for the third
quarter of fiscal year 2024 on Wednesday
July 10, 2024 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 Thursday July 11,
2024 to discuss the financial results. Individuals
interested in participating in the conference call may do so by
dialing toll free (800) 549-8228 or (646) 564-2877 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 Thursday,
July 18, 2024 by dialing (888) 660-6264 for domestic callers
or (646) 517-3975 for international callers and entering replay
passcode 97656#.
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 54 warehouse clubs in 12 countries and
one U.S. territory (ten in Colombia; eight in Costa Rica; seven in Panama; six in Guatemala; five in Dominican Republic; four each in Trinidad and El
Salvador; three in Honduras; two each in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition,
the Company plans to open one warehouse club in Cartago, Costa
Rica in early 2025. Once this new club is open, the Company
will operate 55 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, future dividends, 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,
employee 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, 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. In
addition, these risks are not the only risks that the Company
faces. The Company could also be affected by additional
factors that apply to all companies operating globally and in the
U.S., as well as other risks that are not presently known to the
Company or that the Company considers to be immaterial.
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pricesmart-announces-release-of-its-fiscal-year-2023-environmental-and-social-responsibility-esr-report-highlighting-commitment-to-sustainability-and-community-impact-and-conference-call-details-for-the-third-quarter-of-fiscal-2-302161068.html
SOURCE PriceSmart, Inc.