PriceSmart, Inc. reported a solid financial performance for the fiscal year ending August 31, 2026, with total revenues reaching $5.88 billion, an increase of 11.5% compared to the previous year. Net merchandise sales also rose by 11.7% to $5.75 billion, driven by a 7.2% increase in transactions and a 4.2% rise in average ticket size. The company ended the fiscal year with 58 warehouse clubs, up from 56 in the prior year, and anticipates further expansion with plans to open five new clubs in fiscal year 2027, including locations in Jamaica, Guatemala, Costa Rica, and Chile.
The company's profitability metrics showed improvement, with net income increasing to $166.6 million, or $5.40 per diluted share, compared to $147.9 million, or $4.82 per diluted share, in fiscal year 2025. Total gross margins improved to 16.0%, up from 15.7% in the previous year, reflecting growth in key product categories such as casual apparel and small appliances. Membership income also saw a significant increase of 17.8%, totaling $100.8 million, attributed to a growing membership base and the introduction of the Platinum Membership program, which now accounts for 23.4% of total memberships.
Operationally, PriceSmart continued to enhance its digital capabilities, with online sales reaching $387.4 million, a 26.3% increase year-over-year, representing 6.7% of total net merchandise sales. The company is investing in technology to improve the shopping experience and operational efficiencies, including the implementation of a new point-of-sale system and supply chain management software. Additionally, PriceSmart's workforce grew to over 13,000 employees, reflecting its commitment to providing quality jobs and benefits.
Looking ahead, PriceSmart remains focused on expanding its footprint in existing markets while exploring new opportunities, particularly in Chile, which is viewed as a promising market. The company aims to enhance membership value through improved services and product offerings, while also leveraging technology to drive sales and operational efficiencies. Despite facing challenges such as currency fluctuations and geopolitical risks, PriceSmart's strategic initiatives position it well for continued growth and profitability in the coming years.
About PRICESMART INC
PriceSmart, Inc. operates warehouse clubs in Central America, the Caribbean, Colombia, and the U.S., offering bulk merchandise, private label products, and value-added services like optical and pharmacy. Its business model emphasizes low costs, membership loyalty, and sourcing globally to provide competitive prices. The company focuses on expanding locations, enhancing online shopping, and improving distribution to serve retail and business customers in emerging markets.
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