San Diego-based PriceSmart (NASDAQ: PSMT), the operator of U.S.-style membership warehouse clubs across Latin America and the Caribbean, posted fourth-quarter net merchandise sales of $1.48 billion for the period ended August 31, 2026, a 13.8% increase from $1.30 billion in the year-earlier quarter. Total revenues rose 13.9% to $1.52 billion, while net income climbed 19.3% to $37.6 million, or $1.21 per diluted share, compared with $31.5 million, or $1.02 per diluted share, a year ago.
The Numbers
Stripping out favorable currency movements — which added $78.5 million, or 6.0 percentage points, to reported sales — constant-currency net merchandise sales still advanced 7.8% in the quarter, underscoring organic momentum across the company's 58-club network. Comparable-store net merchandise sales for the 55 clubs open more than 13.5 months rose 12.2% on a reported basis and 6.2% in constant currency. Quarterly adjusted EBITDA reached $83.5 million, up from $75.5 million in the prior-year period. Operating income for the quarter was $57.0 million versus $52.8 million a year earlier.
For the full fiscal year ended August 31, 2026, PriceSmart generated net merchandise sales of $5.75 billion, up 11.7% from $5.15 billion, on total revenues of $5.88 billion. Full-year net income rose 12.6% to $166.6 million, or $5.40 per diluted share, against $147.9 million, or $4.82 per diluted share, in fiscal 2025. Annual adjusted EBITDA expanded to $360.5 million from $320.7 million. Membership income for the year grew to $100.8 million from $85.6 million, a sign that the company's fee-based model — structurally similar to Costco's — continued to attract and retain members across its emerging-market geographies.
Caribbean Push
Beyond the headline financials, PriceSmart opened its third Jamaica warehouse club in October 2026, located on a five-acre site in Montego Bay, roughly 100 miles west of the capital Kingston. The new 42,000-square-foot sales floor incorporates solar panels, CO2-based cooling, and energy-efficient LED lighting — design choices that reflect mounting pressure on retailers operating across climate-vulnerable Caribbean markets to reduce energy costs and carbon exposure. The Montego Bay opening brings the company's total operating count to 59 clubs across 12 countries and one U.S. territory, with four additional locations in the pipeline. A second Kingston club on South Camp Road is slated for December 2026, followed by openings in Villa Nueva, Guatemala and Heredia, Costa Rica in late winter and spring of 2027, respectively. A first-ever Chile location in Santiago's Las Condes district is also targeted for spring 2027 — a market entry that would represent a significant geographic extension for the chain, which currently clusters its footprint in Central America and the Caribbean. Once all four open, the network will reach 63 clubs.
What's Next
The company's growth trajectory positions it as one of the more active warehouse-club and membership retail formats expanding into underserved emerging markets, a space where branded foodservice and packaged goods suppliers are watching closely for distribution leverage. Currency tailwinds — particularly in Colombia and Costa Rica, which together account for 20 of PriceSmart's clubs — have amplified reported results in fiscal 2026, though the 6.4% full-year constant-currency comparable growth rate suggests underlying consumer demand remains firm. For food and beverage suppliers serving Latin American and Caribbean retail channels, PriceSmart's accelerating club count and rising membership base represent a widening opportunity for bulk and private-label placement in a format that prioritizes value-driven assortment.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.
