PriceSmart
| Public | |
| Traded as | NASDAQ: PSMT |
| Predecessor | Costco Wholesale Corporation |
| Founded | 1993 |
| Founder | Sol Price |
| Headquarters | San Diego, California, USA |
| Website | shop |
PriceSmart Inc. is an American warehouse chain and the largest operator of membership warehouse clubs in Central America and the Caribbean, with over 770,000 membership accounts and 1 million cardholders. PriceSmart is headquartered in San Diego, California, and it owns and operates 36 warehouse clubs in 12 countries and one U.S. territory. It also offers online shopping in all countries where PriceSmart operates.
The following table lists the warehouse clubs owned and operated by PriceSmart as of mid of 2014:
In addition to the warehouse clubs owned and operated PriceSmart, there is one warehouse club in operation in Saipan, Micronesia that is licensed to and operated by local business people. The company earns a small royalty fee from this club.
Robert Price named Chairman, President and CEO of Price Enterprises
PriceSmart operates as a wholly owned subsidiary of Price Enterprises
Licensees open 1 club store (Indonesia)
Licensees open 2 club stores (China and Indonesia)
Price Enterprises Inc separates itself from PriceSmart by spinning off all non-real estate assets to PriceSmart
PriceSmart completes IPO and begins trading as PSMT on NASDAQ stock exchange
Gilbert A. Partida appointed President and CEO
Licensee stores in Guam and Philippines close
Licensee arrangement with operator of Indonesian club stores terminated
Licensees open 2 club stores (China)
Licensees open 1 club store (China)
PSMT Philippines created as a joint venture, with PriceSmart holding 60% ownership
Licensees open 3 club stores (China)
PriceSmart starts wholesale phone card sales program
Licensees open 2 club stores (China)
PSMT Mexico created as joint venture with Grupo Gigante, with PriceSmart holding 50% ownership
PSMT Mexico opens 2 club stores in Mexico
PriceSmart closes 4 club stores (Dominican Republic, Guatemala, Guam, Philippines)
PriceSmart terminates wholesale phone card sales program
PSMT Mexico opens 1 club store
Licensees open 2 club stores (China)
Gilbert A. Partida resigns as President and CEO, Robert E. Price assumes role of Interim President and CEO
PriceSmart announces it will restate financial results for 2002 and 2003.
Licensees close 2 club stores (China)
PSMT Mexico closes its 3 stores in Mexico
Company sells its interest in PSMT Philippines to E-Class Corporation, one of PSMT Philippines' minority shareholders
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