Business
PriceSmart Announces the Start of Construction on 10th Warehouse Club in Colombia to be Located in the El Poblado Area of Medellín; and Earnings Release and Conference Call Details for the Second Quarter of Fiscal 2022
SAN DIEGO, March 29, 2022 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) today announced that it purchased land in the El Poblado area in Medellín, Colombia,
About this update from Pricesmart, Inc.
[{"type":"text","content":"SAN DIEGO, March 29, 2022 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) today announced that it purchased land in the El Poblado area in Medellín, Colombia, upon which the Company has started constructing its second warehouse club in Medellín and tenth overall in Colombia. The Company plans to open the El Poblado club in the summer of 2023. \n\n \n \n \n \n \n \n\n \nSherry S. Bahrambeygui, Chief Executive Officer, commented:\n\"We have long sought a suitable site in this very densely populated and growing area of El Poblado, Medellín. We believe the demographic profile around this location closely aligns with the value proposition we are known for. We look forward to serving both new and existing Members.\"\nSecond Quarter 2022 Earnings Announcement Details:\nPriceSmart plans to release second quarter fiscal year 2022 financial results on Thursday, April 7, 2022, 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 Friday, April 8, 2022, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free or (412) 317-5214 for international callers and asking to join the PriceSmart, Inc. call. A digital replay will be available through April 15, 2022, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay passcode 5341114.\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 49 warehouse clubs in 12 countries and one U.S. territory (nine in Colombia; eight in Costa Rica; seven in Panama; five in the Dominican Republic and Guatemala, four in Trinidad; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). The Company plans to open a new warehouse club in Portmore, Jamaica in April 2022 and a club in Medellín, Colombia that is anticipated to open in the summer of 2023. Once these two new clubs are open, the Company will operate at least 51 warehouse clubs depending on the pace of development and co...