PriceSmart Announces Second Quarter Results of Operations

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 at low prices to PriceSmart members. PriceSmart now operates 40 warehouse clubs in 12 countries and one U.S. territory (seven each in Colombia and Costa Rica; five in Panama; four in Trinidad; three each in Guatemala, the Dominican Republic and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). Additionally, PriceSmart through its Aeropost subsidiary provides logistics, payment and ecommerce services in Latin America and the Caribbean.  Aeropost serves customers in 38 countries with Costa Rica, Trinidad and Jamaica as its largest markets.

This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow, proposed warehouse club openings, the Company's performance relative to competitors, the outcome of tax proceedings 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," 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, the following external and internal risks:

External Risks

• Natural disasters that might cause damages not covered by insurance;
• Negative macroeconomic conditions;
• Volatility in foreign currency exchange rates and limitations on our ability to convert foreign currency to US dollars;
• Changes in, and inconsistent enforcement of laws and regulations in countries where we operate, including those related to tariffs and taxes;
• Compliance risks;
• Crime and security concerns, which can adversely affect the economies of the countries in which we operate and which require us to incur additional costs to provide additional security at our warehouse clubs;
• Recoverability of moneys owed to PriceSmart from governments in countries where we do business; and
• The possibility of operational interruptions related to union work stoppages;

Internal Risks:

• We might not identify or effectively respond to changes in consumer shopping preferences with resulting negative effects on our sales and market share;
• Significant competition, including from international online retailers;
• Limitations on the availability of appropriate sites for new warehouse clubs could adversely affect growth;
• We may experience increased costs, delays or failure in our efforts to integrate our online commerce with our traditional brick and mortar business;
• Cost increases from product and service providers;
• Interruption of supply chains, which might adversely impact on our ability to import merchandise;
• Failure to maintain our brand's reputation;
• Exposure to product liability claims and product recalls;
• Failure to maintain our computer systems and/or disruption in those systems;
• Delays or cost overruns implementing our new Enterprise Resource Planning system;
• Any failure to maintain the security of the information we hold relating to our company, our members, employees and suppliers;
• Failure to attract and retain qualified employees, significant increases in wage and benefit expenses, or changes in labor laws with consequent material adverse effect on our financial performance;
• Changes in accounting standards affecting management's financial assumptions, projections, estimates and judgments; and
• a few of our stockholders own approximately 25.3% of our voting stock as of February 28, 2018, which may make it difficult to complete some corporate transactions without their support and may impede a change in control

The risks described above as well as the other risks detailed in the Company's U.S. Securities and Exchange Commission ("SEC") reports, including the Company's Annual Report on Form 10-K filed for the fiscal year ended August 31, 2017 filed on October 26, 2017, pursuant to the Securities Exchange Act of 1934, see "Part I - Item 1A - Risk Factors," could materially and adversely affect our business, financial condition and results of operations. 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 currently considers to be immaterial.

For further information, please contact John M. Heffner, Principal Financial Officer and Principal Accounting Officer (858) 404-8826.

PRICESMART, INC.
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED—AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
	Three Months Ended						Six Months Ended
	February 28,			February 28,			February 28,			February 28,
	2018			2017			2018			2017
Revenues:
Net warehouse club sales	$	816,573		$	772,273		$	1,561,974		$	1,488,352
Export sales		9,138			8,172			17,285			18,906
Membership income		12,703			11,833			25,078			23,543
Other income		1,149			1,018			2,298			2,067
Total revenues		839,563			793,296			1,606,635			1,532,868
Operating expenses:
Cost of goods sold:
Net warehouse club		699,355			659,802			1,336,591			1,268,292
Export		8,685			7,761			16,434			17,942
Selling, general and administrative:
Warehouse club operations		71,951			67,784			141,453			133,210
General and administrative		20,258			18,212			39,088			35,014
Pre-opening expenses		81			—			511			(113)
Asset impairment		1,929			—			1,929			—
Loss/(gain) on disposal of assets		40			335			199			742
Total operating expenses		802,299			753,894 Werbung Mehr Nachrichten zur PriceSmart Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 04.05.24 - dpa-AFX Bundesumweltministerin: Atomkraft zu teuer, zu langwierig und zu riskant 04.05.24 - XTB GOLD: Gefahr von weiteren Rücksetzern steigt! 04.05.24 - Inult Ad-hoc am Samstag: Triggermeldung für nächste 300%-Rallye? Kursverdopplung mit Gap-Close? InnoCan Pharma    Biotech-Innovation auf FDA-Kurs! weiterlesen» Anzeige wo-site-teaser-box-16845_site-teaser-box_2024-05-05_09%253A00%253A00_2024-05-06_09%253A00%253A59