Pricesmart To Open Second Medellín Warehouse Club Location

PriceSmart, Inc. (NASDAQ: PSMT), operator of warehouse clubs in 12 countries and the US Virgin Islands last week announced that it has obtained land and will be constructing its second Medellín location and its tenth location in Colombia. Pricesmart already operates one Warehouse Club in the La Mota neighborhood on Medellín’s southwest side.

The new location will be off of the Transversal Inferior road that passes from near the Hotel Intercontinental on Las Palmas Avenue to just below the upscale El Tesoro shopping mall, and Calle 12 Sur, near the St. Michel complex. This is in Medellín’s highest income área, and also convenient to purchasers in the wealthy eastern suburbs such as El Retiro, Llanogrande, and Loma Del Escobero.

“We have long sought a suitable site in this very densely populated and growing area of El Poblado, Medellín. We believe the demographic profile around this location closely aligns with the value proposition we are known for. We look forward to serving both new and existing Members,” said Sherry S. Bahrambeygui, Pricesmart’s Chief Executive Officer.

Second Quarter 2022 Earnings Announcement Details:

PriceSmart plans to release second quarter fiscal year 2022 financial results on Thursday, April 7, 2022, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, April 8, 2022, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free or (412) 317-5214 for international callers and asking to join the PriceSmart, Inc. call. A digital replay will be available through April 15, 2022, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay passcode 5341114.