PriceSmart's Fourth-Quarter Sales Growth Reaccelerates

The Tip Desk · October 27, 2026 · 3 min read

Net merchandise sales rose 13.8% to $1.48 billion in the quarter ended Aug. 31, 2026, as the foreign-currency lift widened to 6.0%.

PriceSmart, Inc. (PSMT), operator of 59 warehouse clubs in 12 countries and one U.S. territory, reported that net merchandise sales growth reaccelerated in the fiscal fourth quarter ended Aug. 31, 2026, after two slower periods.

Net merchandise sales increased 13.8% to $1.48 billion from $1.30 billion a year earlier. That pace was faster than the 12.5% increase in the third quarter and the 9.9% increase in the second quarter. Total revenues rose 13.9% to $1.52 billion.

Foreign currency was a larger contributor than in either of the two prior quarters. Exchange-rate fluctuations added $78.5 million, or 6.0%, to net merchandise sales versus the year-ago period, after a 4.0% lift in the third quarter and a 2.1% lift in the second. On a constant-currency basis, net merchandise sales grew 7.8%.

Comparable net merchandise sales at the 55 clubs open more than 13½ months rose 12.2% for the 13 weeks ended Aug. 30, 2026, up from 10.7% in the prior quarter and 7.6% two quarters earlier. Constant-currency comparable sales increased 6.2%. The company had 58 warehouse clubs in operation as of Aug. 31, 2026, compared with 56 a year earlier.

Profitability moved the other way. Operating income was $57.0 million, down from $65.6 million in the third quarter. Net income was $37.6 million, or $1.21 a diluted share, compared with $39.7 million, or $1.28 a share, in the prior quarter. Adjusted EBITDA was $83.5 million.

Membership income in the quarter was $27.2 million. Cost of goods sold on net merchandise sales was $1.25 billion. Selling, general and administrative expense for warehouse club and other operations was $147.4 million.

For the full fiscal year ended Aug. 31, 2026, total revenues increased 11.5% to $5.88 billion. Net merchandise sales rose 11.7% to $5.75 billion, with constant-currency growth of 8.4%. Comparable net merchandise sales for the 52 weeks ended Aug. 30 increased 9.6%, or 6.4% in constant currency. Operating income for the year was $261.0 million. Net income was $166.6 million, or $5.40 a share. Adjusted EBITDA was $360.5 million.

Cash and cash equivalents were $220.8 million at Aug. 31, 2026. Short-term investments were $111.4 million. Property and equipment, net, were $1.18 billion. Long-term debt, net of current portion, was $103.0 million.

The company opened its third warehouse club in Jamaica in October 2026, a 42,000-square-foot store in Montego Bay. It plans one more Jamaica club in Kingston in December 2026, one in Villa Nueva, Guatemala, in late winter 2027, one in Costa Rica in spring 2027, and one in Santiago, Chile, in spring 2027. Once those four openings are complete, the company said it will operate 63 warehouse clubs.