PriceSmart Reports Strong Second Quarter Fiscal 2025 Results and Opens Ninth Club in Costa Rica

SAN DIEGO, CA — PriceSmart, Inc. (NASDAQ: PSMT) has announced its financial results for the second quarter of fiscal year 2025, reflecting consistent sales growth and continued expansion in Central America. The company reported a 5.8% increase in net merchandise sales, with comparable net merchandise sales rising by 6.7%. Net income for the quarter reached $43.8 million, or $1.45 per diluted share, up from $39.3 million and $1.31 per diluted share in the prior year.

Second Quarter Highlights
Total revenues rose to $1.36 billion, a 5.6% increase compared to Q2 of fiscal 2024.

Net merchandise sales increased 5.8% to $1.33 billion, and 7.0% on a constant currency basis.

Operating income reached $65.3 million, up from $63.6 million in the prior year.

Adjusted EBITDA increased to $87.0 million, compared to $84.1 million a year earlier.

Foreign exchange fluctuations negatively impacted sales by $14.7 million.

Year-to-Date Results
For the six-month period ending February 28, 2025:

Total revenues were $2.62 billion, up 6.6% from $2.46 billion in the same period last year.

Net merchandise sales grew 6.8%, or 7.6% on a constant currency basis.

Comparable net merchandise sales increased 6.2%, or 7.1% on a constant currency basis.

Net income rose 5.0% to $81.2 million, or $2.66 per diluted share.

Adjusted EBITDA reached $166.1 million, compared to $161.9 million in the prior year.

New Warehouse Club in Costa Rica
PriceSmart has expanded its footprint in Central America with the opening of its ninth club in Costa Rica, located in Cartago, near the San José metropolitan area. This brings the company’s total to 55 clubs across 12 countries and one U.S. territory. An additional club in Quetzaltenango, Guatemala is planned for later in 2025, which will bring the total to 56.

Outlook and Strategy
The company continues to focus on strategic expansion and growth in high-potential markets. Management highlighted continued investment in logistics, omni-channel services, and warehouse infrastructure to enhance value for members and long-term shareholders.

About PriceSmart
PriceSmart operates U.S.-style membership shopping warehouse clubs throughout Latin America and the Caribbean. The company’s low-price model serves members in markets including Colombia, Costa Rica, Panama, Guatemala, and the Dominican Republic, among others.