PriceSmart to build two new locations

PriceSmart continues to expand its footprint.

The warehouse club operation announced that it plans to go ahead with the construction of its 48th warehouse club, in Guatemala City, Guatemala, expected to open in the fall 2021, and its 49th warehouse club in Portmore, Jamaica, expected to open in the spring of 2022.

"Despite the roller coaster we rode with most of the world in this last year, we are ready to proceed with the construction of two new clubs, one each in Guatemala and Jamaica,”. 

The Cayalá Guatemala club will be PriceSmart’s fifth club in Guatemala. 

“We also believe there is strong demand for expansion of our business model and warehouse clubs in Jamaica,” said Sherry S. Bahrambeygui, CEO of PriceSmart. “As I've frequently mentioned before, new club openings are likely to initially adversely impact our comparable net merchandise sales. However, as we move forward with new club openings, as in this case, when we believe that in the long run, such expansion provides opportunities for growth by way of incremental membership, growth in net merchandise sales and services, and a better shopping experience for our members.
 
PriceSmart, headquartered in San Diego,  operates 47 warehouse clubs in 12 countries and one U.S. territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinidad and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands).