UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2021 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to COMMISSION FILE NUMBER 0-22793 PriceSmart, Inc. (Exact name of registrant as specified in its charter) Delaware 33-0628530 (State or other jurisdiction of ...

PriceSmart, Inc. (NASDAQ:PSMT) Q1 2021 Results Conference Call January 8, 2021 12:00 PM ET Company Participants Sherry Bahrambeygui - Chief Executive Officer Michael McCleary - Chief Financial Officer Conference Call Participants Rodrigo Echagaray - Scotiabank Jon Braatz - Kansas City Capital Operator Good morning or afternoon everyone, and welcome to PriceSmart Incorporated Earnings Release Conference Call for the First Fiscal Quarter of 2021, which ended on November 30, 2020. After remarks from our compan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to 9740 Scranton Road, San Diego, CA 92121 (Address of principal executive offices) (Zip Code) (858) 404-8800 (Registrant's telephone number, including area c ...

PriceSmart, Inc. (NASDAQ:PSMT) Q4 2020 Earnings Conference Call October 30, 2020 12:00 PM ET Company Participants Michael McCleary – Chief Financial Officer Sherry Bahrambeygui – Chief Executive Officer Conference Call Participants Jon Braatz – Kansas City Capital Rodrigo Echagaray – Scotiabank Operator Good morning or afternoon, everyone, and welcome to PriceSmart Incorporated Earnings Release Conference Call for the Fourth Quarter of Fiscal Year 2020, which ended on August 31, 2020. After remarks from our ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $799.9 million, an increase of 1.4% year-over-year, while net merchandise sales were $768.4 million, up 1.8% compared to the prior year [39][63] - Net income decreased by 9.9% to $12.7 million, or $0.41 per diluted share, compared to $14.1 million, or $0.46 per diluted share in the same period last year [55][71] - Total gross margin for net merchandise sales was 13.9%, consistent with the same quarter last year but down from recent quarters due to a drop in higher-margin areas impacted by the pandemic [65] Business Line Data and Key Metrics Changes - In Central America, net merchandise sales increased by 1.2%, but comparable net merchandise sales decreased by 6.4% due to traffic reductions from local government restrictions [41] - The Caribbean region saw total net merchandise sales grow by 9.6%, with comparable net merchandise sales growth of 6.4%, driven by strong performance in the Dominican Republic, Trinidad, and Jamaica [42] - In Colombia, net merchandise sales decreased by 14.5%, with comparable net merchandise sales down 14.8%, significantly impacted by currency fluctuations [44] Market Data and Key Metrics Changes - The company faced varying impacts across its 13 markets, with some experiencing temporary club closures and restrictions on operations due to COVID-19 [24][23] - Membership accounts decreased by 2.2% year-over-year, with a trailing 12-month renewal rate of 82.5%, down from 85% the previous year [47][48] - Membership income increased by 3% during the quarter, attributed to new club openings and the launch of platinum membership programs in various markets [51][52] Company Strategy and Development Direction - The company focused on cash management and liquidity during the pandemic, balancing the need for sufficient liquidity while pursuing growth opportunities [33][62] - The launch of the Click & Go program, enabling minimal contact shopping, has been a significant development, representing 2.7% of net merchandise sales in June [30][28] - The company plans to open its third warehouse club in Bogota, Colombia, in Q2 of fiscal 2021, indicating ongoing expansion efforts despite the pandemic [37][56] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the pandemic but expressed confidence in the company's adaptability and ability to meet member needs [10][38] - The company is preparing for various scenarios regarding potential COVID-19 resurgences and associated restrictions, emphasizing the importance of flexibility [90][91] - Management believes that the pandemic has accelerated some plans and highlighted opportunities for growth and improvement in operations [61][62] Other Important Information - The company opened its 46th club in Liberia, Costa Rica, marking a significant milestone in its expansion strategy [35][56] - Cash provided by operating activities increased by $61.2 million compared to the previous year, reflecting adjustments to inventory levels in response to demand shifts [73] - The company has taken proactive measures to manage costs, including furloughing employees and negotiating extended terms with vendors [78][77] Q&A Session Summary Question: Inquiry about gross margins and merchandise mix - Management noted that gross margins decreased due to restrictions on services requiring physical contact, impacting higher-margin areas like bakery and optical [85] Question: Improvement in higher value-added services - Management confirmed that there have been incremental improvements in services like optical and bakery, but the situation remains dynamic [87] Question: Potential for additional restrictions due to COVID-19 resurgence - Management stated that they are preparing for various scenarios and believe that increased COVID-19 cases could lead to greater restrictions [90][91] Question: Comparison of Click & Go program with competitors - Management emphasized that they have launched and expedited the Click & Go program effectively, receiving positive feedback from members [92]

PriceSmart, Inc. (NASDAQ:PSMT) Q2 2020 Earnings Conference Call April 9, 2020 12:00 PM ET Company Participants Michael McCleary - SVP and Interim CFO Sherry Bahrambeygui - CEO Conference Call Participants Rodrigo Echagaray - Scotiabank Jon Braatz - Kansas City Capital Operator Good morning or good afternoon, everyone and welcome to the PriceSmart, Incorporated Earning Release Conference Call for the Second Quarter of Fiscal Year 2020, which ended on February 29, 2020. After remarks from our company represen ...

PriceSmart, Inc. (NASDAQ:PSMT) Q1 2020 Earnings Conference Call January 10, 2020 12:00 PM ET Company Participants Michael McCleary - SVP and Interim-CFO Sherry Bahrambeygui - CEO Conference Call Participants Jon Braatz - Kansas City Capital Operator Good day, and welcome to the First Quarter FY '20 Financial Results Conference Call. [Operator Instructions] I'd now like to turn the conference over to Mr. Michael McCleary, Senior Vice President and Interim Chief Financial Officer. Please go ahead. Michael McC ...

PriceSmart, Inc. (NASDAQ:PSMT) Q4 2019 Earnings Conference Call October 30, 2019 12:00 PM ET Company Participants Maarten Jager - CFO, EVP & Principal Accounting Officer Sherry Bahrambeygui - CEO & Director Conference Call Participants Jonathan Braatz - Kansas City Capital Associates Rodrigo Echagaray - Scotiabank Operator Good day, everyone, and welcome to PriceSmart, Inc. Earnings Release Conference Call for the Fourth Quarter of Fiscal Year 2019 ending on August 31, 2019. [Operator Instructions]. After r ...

Financial Data and Key Metrics Changes - Total revenues for Q3 were $788.6 million, an increase of 0.8% year-over-year [17] - Net income for Q3 was $14.1 million or $0.46 per share, down from $18.7 million or $0.61 per share in the prior year [19] - Merchandise margins decreased to 13.9% from 14.6% a year ago, while total gross margins decreased to 16.1% from 16.6% [28] Business Line Data and Key Metrics Changes - Central American segment saw a 1.2% decrease in total merchandise sales and a 1.8% decrease in comparable sales [20] - Caribbean segment reported total merchandise sales growth of 6.5% with comparable sales growth of 2.9% [21] - Colombia experienced a 3.9% decrease in total merchandise sales with a comparable sales decline of 4.5% [22] Market Data and Key Metrics Changes - Membership count increased to approximately 1.6 million, a 2.4% increase year-to-date [24] - Comparable net merchandise sales for June increased by 1.9%, despite a negative FX impact of 3.1% [25] Company Strategy and Development Direction - The company is focusing on opening smaller format clubs to broaden growth opportunities in secondary locations [7][11] - There is an ongoing effort to develop an omnichannel member experience, integrating digital capabilities with physical stores [13] - The company aims to improve supply chain efficiency and reduce out-of-stock situations [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model despite headwinds from currency fluctuations and political instability in certain markets [34] - The company is optimistic about the performance of new club formats and their potential to drive growth in underserved markets [46] - Management is committed to enhancing margins and addressing competitive dynamics [40] Other Important Information - The company is investing in green initiatives, including biodegradable packaging and solar power in new club openings [9] - The effective tax rate for the quarter was 34.7%, up from 30.3% in the same quarter last year, largely due to U.S. tax reform impacts [30] Q&A Session Summary Question: Concerns about gross margins and competitive conditions - Management does not expect the current margin levels to be the new normal and is focused on improving margins [37][40] Question: Impact of one-time items on margins - Markdowns in nonfoods contributed approximately 30 to 35 basis points to margin reduction [42] Question: Potential for expansion into new markets - Management is evaluating opportunities in additional countries, leveraging digital capabilities [59] Question: Real estate challenges in Colombia - Management is actively pursuing real estate opportunities in Colombia and believes in the market's potential despite currency challenges [52] Question: Tax rate concerns - The tax liability is primarily generated in the markets where the company operates, with ongoing evaluations for optimization [84]

PriceSmart, Inc. May 2018 Forward Looking Statements This presentation may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow, proposed warehouse club openings, the Company's performance relative to competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," " ...