PriceSmart
TypePublic
PredecessorPrice Club
Founded1993
FounderSol Price
Headquarters,
U.S.
RevenueIncreaseUS$2.9billion (2016)[1]
Number of employees
7,903[2] (2017)
Websitepricesmart.com

PriceSmart, Inc. (NASDAQ: PSMT) is an American operator of membership warehouse clubs in Central America, the Caribbean, and South America. PriceSmart was founded by Sol and Robert Price, founders of The Price Club; Robert Price is chairman of the board.

Warehouse clubs

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

Country Nr. of Stores
Aruba 1
Barbados 1
Colombia 10
Costa Rica 8
Dominican Republic 5
El Salvador 4
Guatemala 6
Honduras 3
Jamaica 2
Nicaragua 2
Panama 7
Trinidad and Tobago 4
U.S. Virgin Islands 1

Key dates

References

  1. "Annual Report 2016" (PDF). PriceSmart.com. PriceSmart Inc.
  2. "PriceSmart". Fortune. Retrieved 2019-03-17.
YearEvents
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 two club stores (Micronesia and Guam)
      1996 PriceSmart opens its first club store (Panama)

        Licensees open one club store (Indonesia)

        1997 PriceSmart opens its second club store (Panama)

          Licensees open two 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 two club stores (China and Philippines)

                  Licensee stores in Guam and Philippines close

                    Licensee arrangement with operator of Indonesian club stores terminated

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

                      Licensees open two club stores (China)

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

                        Licensees open one club store (China)

                          PSMT Philippines created as a joint venture with S&R Membership Shopping, with PriceSmart holding 60% ownership

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

                            Licensees open three club stores (China)

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

                              PriceSmart starts wholesale phone card sales program

                                Licensees open two club stores (China)

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

                                    PSMT Mexico opens two club stores in Mexico

                                    2003 PriceSmart opens two club stores (Jamaica, Nicaragua)

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

                                        PriceSmart terminates wholesale phone card sales program

                                          PSMT Mexico opens one club store

                                            Licensees open two 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 one club store (Philippines)

                                                  Licensees close two club stores (China)

                                                  2005 PriceSmart opens one club store (Costa Rica)

                                                    PSMT Mexico closes its three stores in Mexico (Irapuato and Celaya stores replaced with Home Depot)

                                                      Company sells its interest in PSMT Philippines to E-Class Corporation, one of PSMT Philippines' minority shareholders (all stores in Philippines became S&R)

                                                        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 two club stores (Guatemala, Trinidad)

                                                            PriceSmart sells its interest in PSMT Mexico to Grupo Gigante

                                                            2009 PriceSmart opens one club store (Costa Rica)

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

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

                                                                PriceSmart opens one club store (Dominican Republic)

                                                                  2019 PriceSmart opens three club stores (Dominican Republic, Guatemala-San Cristobal, Panama-Metro Park)
                                                                  2020 PriceSmart opens two club stores (Costa Rica-Liberia and Colombia-Bogota)
                                                                  2021 PriceSmart opens two club stores (Colombia-Bucaramanga and Guatemala-Aranda)
                                                                  2022 PriceSmart opens one club store (Jamaica-Portmore)

                                                                  Sherry Bahrambeygui removed from PriceSmart

                                                                  Pricemart sells Aeropost.com

                                                                  2023 John Hildebrandt as COO

                                                                  PriceSmart opens three club stores (Colombia-Elpoblado, El Salvador-San Miguel and Guatemala-Escuintla)

                                                                  2024 PriceSmart Opens one club store

                                                                  (El Salvador-Santa Ana)

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