PriceSmart, Inc. is an American operator of membership warehouse clubs in Central America, the Caribbean, and South America.
PriceSmart was founded by Sol and Robert Price, founders of The Price Club; Robert Price is chairman of the board.
The following table lists the warehouse clubs owned and operated currently by PriceSmart:[3] Robert Price named chairman, president and CEO of Price Enterprises PriceSmart operates as a wholly owned subsidiary of Price Enterprises Licensees open one club store (Indonesia) Licensees open two club stores (China and Indonesia) Price Enterprises Inc separates itself from PriceSmart by spinning off all non-real estate assets to PriceSmart PriceSmart completes IPO and begins trading as PSMT on NASDAQ stock exchange Gilbert A. Partida appointed president and CEO Licensee stores in Guam and Philippines close Licensee arrangement with operator of Indonesian club stores terminated Licensees open two club stores (China) Licensees open one club store (China) PSMT Philippines created as a joint venture with S&R Membership Shopping, with PriceSmart holding 60% ownership Licensees open three club stores (China) PriceSmart starts wholesale phone card sales program Licensees open two club stores (China) PSMT Mexico created as joint venture with Grupo Gigante, with PriceSmart holding 50% ownership PSMT Mexico opens two club stores in Mexico PriceSmart closes four club stores (Dominican Republic, Guatemala, Guam, Philippines) PriceSmart terminates wholesale phone card sales program PSMT Mexico opens one club store Licensees open two club stores (China) Gilbert A. Partida resigns as president and CEO, Robert E. Price assumes role of interim president and CEO PriceSmart announces it will restate financial results for 2002 and 2003.
Licensees close two club stores (China) PSMT Mexico closes its three stores in Mexico (Irapuato and Celaya stores replaced with Home Depot) Company sells its interest in PSMT Philippines to E-Class Corporation, one of PSMT Philippines' minority shareholders (all stores in Philippines became S&R) Licensee arrangement with operator of Chinese club stores terminated PriceSmart added to Russell 2000 stock index PriceSmart sells its interest in PSMT Mexico to Grupo Gigante Ranked #55 on Fortune Magazine's list of 100 fastest growing companies PriceSmart opens one club store (Dominican Republic) Sherry Bahrambeygui removed from PriceSmart Pricemart sells Aeropost.com PriceSmart opens three club stores (Colombia-El Poblado, El Salvador-San Miguel and Guatemala-Escuintla) (El Salvador-Santa Ana)