PriceSmart adds two more locations to 2026-2027 lineup, including first mall site
On the heels of a strong third quarter, PriceSmart is continuing to grow its footprint.
The San Diego-based membership warehouse club retailer plans open its first warehouse club in Chile, in Comuna Las Condes, Santiago. Located within Mallplaza Los Dominicos shopping center, the club is expected to open in spring 2027.
“We are excited to announce our planned entry into Chile with our first location in the Las Condes corridor, which will also be our first warehouse club located within a mall setting,” said David Price, CEO of PriceSmart. “This site aligns well with our membership model and long-term growth strategy.”
The club also establishes the foundation for what PriceSmart believe can become a “meaningful” multi-club market over time," added Price.
In addition, the company has purchased land and plans to open its eleventh warehouse club in Costa Rica, located in Santo Tomas de Santo Domingo (Heredia). The club will be built on a six-acre property and is anticipated to open in the spring of 2027.
PriceSmart’s total revenues increased 12.5% to $1.48 billion for its third quarter,ended May 31. Comparable net merchandise sales increased 6.9%. Net income increased 12.9% to $39.7 million.
As of May 31, PriceSmart had 57 warehouse clubs in 12 countries and one U.S. territory. Its portfolio includes 10 clubs in Colombia; nine in Costa Rica; seven each in Panama and Guatemala; six 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 each of Ciudad Quesada and Santo Tomas de Santo Domingo (Heredia), Costa Rica in August 2026 and in the spring of 2027, respectively; one new warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the fall of 2026 and winter of 2026-27, respectively; one warehouse club in Villa Nueva, Guatemala in the winter of 2027; and one warehouse club in Comuna Las Condes, Santiago, Chile in the spring of 2027.