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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. PriceSmart serves over 3 million cardholders at 40 owned and operated warehouse clubs in 12 countries and one U.S. territory. PriceSmart was founded by Sol and Robert Price, founders of The Price Club; Robert Price is Chairman of the Board.

PriceSmart
Public
Traded asNASDAQPSMT
Russell 2000 Component
PredecessorCostco Wholesale Corporation
Founded1993
FounderSol Price
HeadquartersSan Diego, California, USA
RevenueIncreaseUS$2.9 billion (2016)[1]
Websiteshop.pricesmart.com

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).

The following table lists the warehouse clubs owned and operated by PriceSmart:

Country Nr. of Stores Locations
Aruba 1
  • Oranjestad
Barbados 1
  • St. Michael
Colombia 7
  • Barranquilla
  • Bogotá
  • Bogotá Chia
  • Cali Menga
  • Cali Cañasgordas
  • Medellín
  • Pereira
Costa Rica 7
  • Alajuela
  • Escazú
  • Heredia
  • Llorente de Tibás
  • Zapote
  • Tres Rios
  • Santa Ana
Dominican Republic 4
  • Arroyo Hondo
  • Los Prados
  • Santiago
  • San Isidro
El Salvador 2
  • Santa Elena
  • Los Héroes
Guatemala 3
  • Fraijanes
  • Miraflores
  • Pradera
Honduras 3
  • San Pedro Sula
  • Tegucigalpa
  • El Sauce
Jamaica 1
  • Kingston
Nicaragua 2
  • Managua
  • Road to Masaya
Panama 5
  • Brisas del Golf
  • David
  • El Dorado
  • Vía Brasil
  • La Chorrera
Trinidad and Tobago 4
  • Chaguanas (Price Plaza)
  • Mausica
  • Port of Spain (Movietowne)
  • San Fernando (La Romaine)
U.S. Virgin Islands 1
  • St. Thomas

In addition to the warehouse clubs owned and operated PriceSmart, there is one warehouse club in operation in Saipan, Northern Mariana Islands that is licensed to and operated by local business people. The company earns a small royalty fee from this club.

Key datesEdit

Year Events
1976 Price Club founded by Sol and Robert Price
1993 The Price Co. and Costco Wholesale Club merge, forming Price/Costco Inc (later renamed Costco Wholesale Corporation)
1994 Price Enterprises Inc spun off from Price/Costco

Robert Price named Chairman, President and CEO of Price Enterprises

PriceSmart operates as a wholly owned subsidiary of Price Enterprises

1995 Licensees open 2 club stores (Micronesia and Guam)
1996 PriceSmart opens its first club store (Panama)

Licensees open 1 club store (Indonesia)

1997 PriceSmart opens its second club store (Panama)

Licensees open 2 club stores (China and Indonesia)

Price Enterprises Inc separates itself from PriceSmart by spinning off all non-real estate assets to PriceSmart

PriceSmart completes IPO and begins trading as PSMT on NASDAQ stock exchange

Gilbert A. Partida appointed President and CEO

1998 Licensees open 2 club stores (China and Philippines)

Licensee stores in Guam and Philippines close

Licensee arrangement with operator of Indonesian club stores terminated

1999 PriceSmart opens 7 club stores (Guatemala, Costa Rica, El Salvador, Honduras, Panama, two in Dominican Republic)

Licensees open 2 club stores (China)

2000 PriceSmart opens 8 club stores (Dominican Republic, El Salvador, Honduras, two in Costa Rica, Panama, Guatemala, Trinidad)

Licensees open 1 club store (China)

PSMT Philippines created as a joint venture, with PriceSmart holding 60% ownership

2001 PriceSmart opens 7 club stores (Aruba, USVI, Guatemala, Barbados, Trinidad, two in Philippines)

Licensees open 3 club stores (China)

2002 PriceSmart opens 3 club stores (Guam, two in Philippines)

PriceSmart starts wholesale phone card sales program

Licensees open 2 club stores (China)

PSMT Mexico created as joint venture with Grupo Gigante, with PriceSmart holding 50% ownership

PSMT Mexico opens 2 club stores in Mexico

2003 PriceSmart opens 2 club stores (Jamaica, Nicaragua)

PriceSmart closes 4 club stores (Dominican Republic, Guatemala, Guam, Philippines)

PriceSmart terminates wholesale phone card sales program

PSMT Mexico opens 1 club store

Licensees open 2 club stores (China)

Gilbert A. Partida resigns as President and CEO, Robert E. Price assumes role of Interim President and CEO

PriceSmart announces it will restate financial results for 2002 and 2003.

2004 PriceSmart opens 1 club store (Philippines)

Licensees close 2 club stores (China)

2005 PriceSmart opens 1 club store (Costa Rica)

PSMT Mexico closes its 3 stores in Mexico

Company sells its interest in PSMT Philippines to E-Class Corporation, one of PSMT Philippines' minority shareholders

Licensee arrangement with operator of Chinese club stores terminated

2006 PriceSmart relocates San Pedro Sula, Honduras club store

PriceSmart added to Russell 2000 stock index

2007 PriceSmart opens 2 club stores (Guatemala, Trinidad)

PriceSmart sells its interest in PSMT Mexico to Grupo Gigante

2009 PriceSmart opens 1 club store (Costa Rica)

Ranked #55 on Fortune Magazine's list of 100 fastest growing companies

2010 PriceSmart opens 2 club stores (Trinidad, Dominican Republic)

PriceSmart relocates Panama City, Panama club store

Jose Luis Laparte appointed President and CEO

Ranked #94 on Fortune Magazine's list of 100 fastest growing companies

2011 PriceSmart opens 1 club store (Colombia -Barranquilla)
2012 PriceSmart opens 1 club store (Colombia)
2013 PriceSmart opens 2 club stores (Colombia and Costa Rica)
2014 PriceSmart opens 1 club store (Honduras)
2014 PriceSmart opens 1 club store (Colombia-Medellin)
2014 PriceSmart opens 1 club store (Colombia-Pereira)
2015 PriceSmart opens 1 club store (Colombia-Bogotá)
2016 PriceSmart opens 1 club store (Colombia-Chia)
2018 PriceSmart acquires Aeropost.com

ReferencesEdit

  1. ^ "Annual Report 2016" (PDF). PriceSmart.com. PriceSmart Inc.

External linksEdit