PriceSmart Announces Release of its Fiscal Year 2023 Environmental and Social Responsibility (ESR) Report Highlighting Commitment to Sustainability and Community Impact and Conference Call Details for the Third Quarter of Fiscal 2024

SAN DIEGO, June 3, 2024 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ: PSMT), operator of 54 warehouse clubs in 12 countries and one U.S. territory, today announced the publication of its fiscal year 2023 Environmental and Social Responsibility (ESR) report.  

This comprehensive report provides information on PriceSmart's commitment to sustainability and positively impacting communities and the environment. Through detailed insights into the Company's programs and initiatives, the report describes PriceSmart's dedication to fostering environmental stewardship, social responsibility, and strong corporate governance across its operations.

Key Achievements and Initiatives:

• Our People: PriceSmart is providing employees with opportunities for development to enable each team member to learn and grow.
• Global Recognition: PriceSmart has been honored as one of Newsweek's Top 100 Global Most Loved Workplaces in the U.S. for two consecutive years, 2022 and 2023.
• Energy and Waste: Across the Company's facilities, PriceSmart is seeking to minimize energy usage, maximize solar energy production, and expand recycling stations, in applicable markets and locations.
• Sustainable Supply Chain: The Company is nearshoring its supply chain, expanding its network of distribution centers, and continuing to optimize the flow of goods throughout the distribution network.
• PriceSmart Foundation Impact: The Company is committed to empowering communities by supporting youth development, education, and fostering economic opportunities. Additionally, PriceSmart Foundation has placed a significant emphasis on accelerating growth for women-led businesses in Central America.
• Expanding Volunteerism: The Company is expanding its volunteering program which encourages employees to engage in community service.

PriceSmart encourages stakeholders to explore the full fiscal year 2023 ESR report to gain a deeper understanding of the Company's efforts and achievements in environmental and social matters, including our people, supply chain and governance. The report is a testament to PriceSmart's dedication to making a long-lasting positive difference in the world.

Access the full ESR report at https://investors.pricesmart.com under the ESG tab.

Third Quarter Conference Call Details

PriceSmart plans to release financial results for the third quarter of fiscal year 2024 on Wednesday July 10, 2024 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 Thursday July 11, 2024 to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8228 or (646) 564-2877 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 Thursday, July 18, 2024 by dialing (888) 660-6264 for domestic callers or (646) 517-3975 for international callers and entering replay passcode 97656#.

About PriceSmart

PriceSmart, 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 54 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; eight in Costa Rica; seven in Panama; six in Guatemala; five in Dominican Republic; four each in Trinidad and El Salvador; three in Honduras; two each in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition, the Company plans to open one warehouse club in Cartago, Costa Rica in early 2025. Once this new club is open, the Company will operate 55 warehouse clubs.

This press release may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, adverse changes in economic conditions in our markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of Member, employee or business information, cost increases from product and service providers, interruption of supply chains, novel coronavirus (COVID-19) related factors and challenges, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.  In addition, these risks are not the only risks that the Company faces.  The Company could also be affected by additional factors that apply to all companies operating globally and in the U.S., as well as other risks that are not presently known to the Company or that the Company considers to be immaterial.

For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected]. 

SOURCE PriceSmart, Inc.