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Interim CEO Robert Price co-founded Pricesmart along with his late father, Sol Price.

Net merchandise sales grew 13%, comp sales were up 9.2%, EPS grew 19%, and 88.9% of memberships are renewing, the retailer reports.

The new location will be the company's tenth in Colombia

CEO Sherry S. Bahrambeygui said that the retailer is earning strong cash flow, and can drive new club growth, increase service and benefits to members.

In many markets PriceSmart is the only reliable source for high quality grocery imports from the US, such as whole turkeys or authentic bacon, ham, cheeses & condiments.

"We are on target with plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022,” said CEO Sherry S. Bahrambeygui.

PriceSmart, Inc. (NASDAQ: PSMT) announced that net merchandise sales in May increased 16.3% to $286.4 million from $246.3 million in May a year earlier. Comparable net merchandise sales for the 45 warehouse clubs open at least 13½ full months increased 12.0% when compared to the...

The company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the company will operate 50 warehouse clubs.

With the addition of this new Colombia club and the new clubs already under construction in Guatemala City, Guatemala, and the Kingston suburb of Portmore, Jamaica, PriceSmart expects to have 50 clubs in operation by spring 2022.

PriceSmart, Inc. (NASDAQ: PSMT) Net Merchandise Sales grew 2.8%, after negative 3.1% FX impact. Comparable Net Merchandise Sales decreased 1.7%, after 2.9% negative FX impact. E-Commerce Penetration was 2.8% of Total Net Merchandise Sales