Business
PriceSmart Announces Opening of Third Warehouse Club in El Salvador and Earnings Release and Conference Call Details for the Third Quarter of Fiscal 2023
SAN DIEGO, June 1, 2023 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) today announced that on May 4, 2023 the Company opened its newest warehouse club in
About this update from Pricesmart, Inc.
[{"type":"text","content":"SAN DIEGO, June 1, 2023 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) today announced that on May 4, 2023 the Company opened its newest warehouse club in San Miguel, El Salvador, bringing the total number of warehouse clubs in operation by the Company to 51. The San Miguel club is the third club in El Salvador and was constructed on a five-acre property in the Hacienda San Andrés area, approximately 100 miles east of the capital city San Salvador.\n\n \n \n \n \n \n \n\n \nComments from Robert E. Price, Interim Chief Executive Officer:\n\"We are truly excited to have opened the new San Miguel club, our third club in El Salvador. The city of San Miguel, located on the east side of El Salvador, is an important city for our continued growth as it is one of the most populous cities in the country. This club includes our new sales floor design, which we expect will allow for better space utilization through more efficient sales floor pallet positioning. We have also been very pleased with initial membership sign-ups and sales. We believe this club will strengthen our overall presence in El Salvador and it has created approximately 100 new jobs. The successful opening of this club is a testament to the talent and commitment of the PriceSmart team.\"\nThird Quarter Conference Call Details \nPriceSmart plans to release financial results for the third quarter of fiscal year 2023 on Monday, July 10, 2023 after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Tuesday, July 11, 2023 to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (888) 886-7786 or (416) 764-8658 for international callers and asking to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through July 18, 2023 by dialing (877) 674-7070 for domestic callers or (416) 764-8692 for international callers and entering replay passcode 780477#.\nAbout PriceSmart \nPriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 51 warehouse clubs in 12 countries and one U.S. territory (nine in...