RELATED-PARTY TRANSACTIONS |
12 Months Ended |
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Aug. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED-PARTY TRANSACTIONS | RELATED-PARTY TRANSACTIONS Relationships with Edgar Zurcher: Mr. Zurcher, a director of the Company, is also a director of a company that owns 40% of Payless ShoeSource Holdings, Ltd., which rents retail space from the Company. The Company recorded approximately $619,000, $708,000, and $632,000 in rental income for this space during the fiscal years ended 2026, 2025 and 2024, respectively. Additionally, Mr. Zurcher is a director of Molinos de Costa Rica S.A. The Company paid approximately $1.9 million for products purchased from this entity for the fiscal year ended August 31, 2026, and $1.7 million for the fiscal years ended August 31, 2025 and August 31, 2024. Relationships with Price Family Charitable Organizations: During the years ended August 31, 2026, 2025 and 2024, the Company sold approximately $336,000, $337,000 and $336,000, respectively, of supplies to Price Philanthropies Foundation. Additionally, effective January 1, 2026, the Company entered into a grant agreement with Price Philanthropies Foundation. The grant agreement has a term of one year, commencing January 1, 2026 and expiring December 31, 2026. Pursuant to the terms of the agreement, the Foundation awarded the Company $1,249,668, payable in four quarterly installments of $312,417 each during calendar year 2026, to provide operational support for the Company's Aprender y Crecer charitable program. The Company is required to use the grant proceeds solely for purposes consistent with the objectives set forth in the grant agreement. For the period from January 1, 2026 through August 31, 2026, the Company recognized grant income of $833,112. Robert Price, Executive Chairman of the Company's Board of Directors, is the Chairman of the Board and President of the Price Philanthropies Foundation. Sherry S. Bahrambeygui, a director of the Company, serves as a director of the Board of the Price Philanthropies Foundation. Jeffrey R. Fisher, a director of the Company, serves as the Chief Financial Officer and as a director of the Board of the Price Philanthropies Foundation. David Price, a director and the Chief Executive Officer of the Company in fiscal year 2026, serves as Vice President and Vice Chair of the Board of the Price Philanthropies Foundation. Relationships with PriceSmart Foundation: During the year ending August 31, 2024, the Company donated a contribution of $150,000 to PriceSmart Foundation. At August 31, 2024, David Price was a director and the Executive Vice President and Chief Transformation Officer of the Company and served as the President of PriceSmart Foundation. Francisco Velasco was Executive Vice President – Chief Legal Officer, Chief Risk & Compliance Officer and Secretary of the Company and served as a member of the board of PriceSmart Foundation. Jeffrey R. Fisher, a director of the Company, served as the Chief Financial Officer of PriceSmart Foundation. Patricia Márquez, a director of the Company, served as a member of the board of PriceSmart Foundation. Relationship with GolfPark Plaza, S.A.: GolfPark Plaza, S.A. is a real estate joint venture located in Panama, entered by the Company in 2008. On December 12, 2013, the Company entered into a lease agreement for approximately 17,976 square feet (1,670 square meters) of land with GolfPark Plaza, S.A. upon which the Company constructed its central offices in Panama. The lease term was for 15 years with three options to renew for five years each at the Company's discretion. On July 14, 2017, the Company entered into a lease agreement for approximately 2,992 square feet (278 square meters) of a building with GolfPark Plaza, S.A. for warehouse storage space. The agreement was renewed for an additional five years during fiscal year 2022. In the first quarter of fiscal year 2026, the Company dissolved its ownership in GolfPark Plaza, S.A. joint venture. The Company recognized rent expense of $140,000 in each of the fiscal years ended August 31, 2025 and August 31, 2024. Relationship with La Jolla Aviation: Robert E. Price owns La Jolla Aviation, Inc., a company that PriceSmart employees use for travel. The Company incurred approximately $151,000, $210,000 and $400,000 in travel expenses for travel provided by La Jolla Aviation for the fiscal years ended August 31, 2026, 2025 and 2024, respectively. Jeffrey R. Fisher, a director of the Company, previously served as Secretary and Chief Financial Officer of La Jolla Aviation, including during fiscal year 2024. However, he does not currently hold any positions at La Jolla Aviation. Relationship with Robert Price: On February 3, 2023, Robert E. Price, a Company founder and Chairman of the Board of Directors, became Interim Chief Executive Officer. Mr. Price elected not to receive compensation for his role as Interim Chief Executive Officer. Therefore, the financial statements do not include compensation charges for his services. We have estimated the fair value of these services, based on a number of factors, to be approximately $5.1 million on an annual basis. On August 31, 2025, Robert Price officially stepped down as Interim Chief Executive Officer and David Price became Chief Executive Officer of the Company as of September 1, 2025. For the year ended August 31, 2026, there were no related party transactions identified with Robert Price other than transactions described above with entities related to Mr. Price.
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