PriceSmart earnings rose 12.6% to $166.6 million for the fiscal year ended August 31, 2026, as revenue increased 11.5% to $5.88 billion. The membership warehouse retailer released the results on October 26, alongside stronger fourth-quarter profit and confirmation that its third club in Jamaica had opened.
Key Takeaways
- Full-year diluted earnings per share increased to $5.40 from $4.82.
- Fourth-quarter merchandise sales grew 13.8%, with favorable currency movements contributing to the increase.
- PriceSmart now operates 59 clubs and plans four more openings through spring 2027.
PriceSmart earnings grow across the full year and fourth quarter
The company's fiscal 2026 operating results showed annual net merchandise sales of $5.75 billion, up 11.7% from $5.15 billion in fiscal 2025. Operating income increased to $261.0 million from $232.5 million, while net income rose from $147.9 million to $166.6 million.
The final quarter also delivered higher sales and profit. Revenue increased 13.9% to $1.52 billion, and net merchandise sales rose 13.8% to $1.48 billion. Quarterly net income reached $37.6 million, or $1.21 per diluted share, compared with $31.5 million, or $1.02 per diluted share, a year earlier.
Fourth-quarter operating income increased to $57.0 million from $52.8 million. Net profit grew faster than operating income, while the income-tax provision fell to approximately $12.5 million from $14.8 million.
| Item | Details |
|---|---|
| South Camp Road, Kingston, Jamaica | Planned opening: December 2026 |
| Villa Nueva, Guatemala | Planned opening: late winter 2027 |
| Santo Tomas de Santo Domingo, Costa Rica | Planned opening: spring 2027 |
| Comuna Las Condes, Santiago, Chile | Planned opening: spring 2027 |
Currency gains amplified merchandise sales growth
PriceSmart said foreign-exchange movements added $170.6 million to full-year net merchandise sales. Excluding currency translation effects, merchandise sales increased 8.4%, compared with the reported 11.7% increase.
The currency contribution was more pronounced in the fourth quarter: exchange-rate fluctuations added $78.5 million, and constant-currency merchandise sales grew 7.8%, below the reported 13.8% increase. The distinction shows that sales expanded even without the favorable translation effect, but currency movements materially lifted the reported dollar figures.
Comparable merchandise sales at 55 clubs open for more than 13½ calendar months increased 12.2% for the 13 weeks ended August 30, 2026. On a constant-currency basis, the increase was 6.2%. PriceSmart identifies constant-currency measures as non-GAAP metrics.
Jamaica opening precedes four planned additions
PriceSmart opened its Montego Bay warehouse club in October 2026, bringing its network to 59 locations across 12 countries and one U.S. territory. The company had 58 clubs at the August fiscal year-end, compared with 56 a year earlier.
The Montego Bay location is the company's third in Jamaica and has approximately 42,000 square feet of selling space. Four further openings remain planned rather than completed; PriceSmart says those additions would bring its network to 63 clubs.
Next milestone
Management is scheduled to discuss the results on October 27, 2026, at noon Eastern time. The next planned club opening is South Camp Road in Kingston, Jamaica, in December 2026.
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