PriceSmart
Encyclopedia
PriceSmart Inc. is 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 28 warehouse clubs in 11 countries and one U.S. territory. It also offers online shopping in all countries where PriceSmart operates.
As of June, 2011, the warehouse clubs owned and operated by PriceSmart are listed in the following table:
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.
San Diego, California
San Diego is the eighth-largest city in the United States and second-largest city in California. The city is located on the coast of the Pacific Ocean in Southern California, immediately adjacent to the Mexican border. The birthplace of California, San Diego is known for its mild year-round...
, and it owns and operates 28 warehouse clubs in 11 countries and one U.S. territory. It also offers online shopping in all countries where PriceSmart operates.
As of June, 2011, the warehouse clubs owned and operated by PriceSmart are listed in the following table:
| Country | Number of Stores | Locations | Notes |
|---|---|---|---|
| Aruba | 1 |
Oranjestad | |
| Barbados | 1 |
St.Michael | |
| Colombia | 1 |
Barranquilla | Opening August, 2011 |
| Costa Rica | 5 |
Alajuela Escazú Heredia Llorente de Tibás Zapote |
|
| Dominican Republic | 3 |
Arroyo Hondo Los Prados Santiago |
|
| El Salvador | 2 |
Santa Elena Los Héroes |
|
| Guatemala | 3 |
Fraijanes Miraflores Pradera |
|
| Honduras | 2 |
San Pedro Sula Tegicugalpa |
|
| Jamaica | 1 |
Kingston | |
| Nicaragua | 1 |
Managua | |
| Panama | 4 |
Brisas David El Dorado Via Brazil |
|
| Trinidad | 4 |
Chaguanas Mausica Port of Spain San Fernando |
|
| U.S. Virgin Islands | 1 |
St. Thomas |
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.
Key Dates
| Year | Events |
|---|---|
| 1976 | Price Club founded by Sol and Robert Price |
| 1993 | The Price Co. and Costco Wholesale Club merge, forming Price/Costco Inc (later renamed Costco Wholesale Corporation) |
| 1994 | Price Enterprises Inc spun off from Price/Costco Robert Price named Chairman, President and CEO of Price Enterprises PriceSmart operates as a wholly owned subsidiary of Price Enterprises |
| 1995 | Licensees open 2 club stores (Micronesia and Guam) |
| 1996 | PriceSmart opens its first club store (Panama) Licensees open 1 club store (Indonesia) |
| 1997 | PriceSmart opens its second club store (Panama) 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 |
| 1998 | Licensees open 2 club stores (China and Philippines) Licensee stores in Guam and Philippines close Licensee arrangement with operator of Indonesian club stores terminated |
| 1999 | PriceSmart opens 7 club stores (Guatemala, Costa Rica, El Salvador, Honduras, Panama, two in Dominican Republic) Licensees open 2 club stores (China) |
| 2000 | PriceSmart opens 8 club stores (Dominican Republic, El Salvador, Honduras, two in Costa Rica, Panama, Guatemala, Trinidad) Licensees open 1 club store (China) PSMT Philippines created as a joint venture, with PriceSmart holding 60% ownership |
| 2001 | PriceSmart opens 7 club stores (Aruba, USVI, Guatemala, Barbados, Trinidad, two in Philippines) Licensees open 3 club stores (China) |
| 2002 | PriceSmart opens 3 club stores (Guam, two in Philippines) 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 |
| 2003 | PriceSmart opens 2 club stores (Jamaica, Nicaragua) 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. |
| 2004 | PriceSmart opens 1 club store (Philippines) Licensees close 2 club stores (China) |
| 2005 | PriceSmart opens 1 club store (Costa Rica) 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 Licensee arrangement with operator of Chinese club stores terminated |
| 2006 | PriceSmart relocates San Pedro Sula, Honduras club store PriceSmart added to Russell 2000 stock index |
| 2007 | PriceSmart opens 2 club stores (Guatemala, Trinidad) PriceSmart sells its interest in PSMT Mexico to Grupo Gigante |
| 2009 | PriceSmart opens 1 club store (Costa Rica) Ranked #55 on Fortune Magazine's list of 100 fastest growing companies |
| 2010 | PriceSmart opens 2 club stores (Trinidad, Dominican Republic) PriceSmart relocates Panama City, Panama club store Jose Luis Laparte appointed President and CEO Ranked #94 on Fortune Magazine's list of 100 fastest growing companies |