COMPANY OVERVIEW AND BASIS OF PRESENTATION |
9 Months Ended |
|---|---|
May 31, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| COMPANY OVERVIEW AND BASIS OF PRESENTATION | COMPANY OVERVIEW AND BASIS OF PRESENTATION PriceSmart, Inc.’s (“PriceSmart,” the “Company,” “we” or “our”) business consists primarily of international membership shopping warehouse clubs similar to, but typically smaller in size than, warehouse clubs in the United States. As of May 31, 2026, the Company had 57 warehouse clubs in operation in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven each in Panama and Guatemala; six 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), of which the Company owns 100% of the corresponding legal entities (see Note 2 - Summary of Significant Accounting Policies). In addition, the Company plans to open one warehouse club in each of Ciudad Quesada and Santo Tomas de Santo Domingo (Heredia), Costa Rica in August 2026 and in the spring of 2027, respectively, one warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the fall of 2026 and winter of 2026-27, respectively, one warehouse club in Villa Nueva, Guatemala in the winter of 2027, and one warehouse club in Comuna Las Condes, Santiago, Chile in the spring of 2027. Once these six new clubs are open, the Company will operate 63 warehouse clubs. Our operating segments are currently the United States, Central America, the Caribbean and Colombia. PriceSmart continues to invest in technology and talent to support the following three major drivers of growth: 1.Invest in Adding New PriceSmart Locations, Expanding into New Markets, Remodeling Current PriceSmart Clubs and Opening More Distribution Centers; 2.Increase Membership Value; and 3.Drive Incremental Sales via PriceSmart.com and Enhanced Digital and Technological Capabilities. Basis of Presentation – The interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2025 (the “2025 Form 10-K”). The interim consolidated financial statements include the accounts of PriceSmart, Inc., a Delaware corporation, and its subsidiaries. Amounts and percentage calculations may not total due to rounding. Intercompany transactions between the Company and its subsidiaries have been eliminated in consolidation. Throughout this Quarterly Report, we refer to various trademarks and trade names that we use in our business. Other trademarks, service marks or trade names referred to in this Quarterly Report are the property of their respective owners.
|