PriceSmart Announces the Release of its Fiscal Year 2024 Sustainability Report Highlighting Key Achievements on Sustainability
SAN DIEGO, April 30, 2025 /PRNewswire/ -- PriceSmart, Inc. ("PriceSmart" or the "Company") (NASDAQ:PSMT), a leading membership shopping warehouse club, is proud to announce the release of its 2024 Sustainability Report. The report underscores the Company's ongoing commitment to responsible business practices across its operations in the United States, 12 countries, and one U.S. territory.
The 2024 Sustainability Report details PriceSmart's progress in environmental, social, and governance ("ESG") initiatives. It is structured around four key pillars that form the foundation of our sustainability strategy: Responsibility Toward People and Culture, Social and Community Engagement, Environmental Impact, and Responsibly Sourced Food, Products, and Services.
This year's report highlights our renewed focus on the most important topics for our stakeholders, our commitment to our employees and communities, and our efforts to reduce our environmental footprint while ensuring responsible sourcing practices.
Key Highlights from the FY2024 Sustainability Report:
- Increased renewable energy adoption, with 45 of 54 clubs operating rooftop solar arrays, generating 31,952 MWh of clean power, a 15.8% increase from FY2023.
- Expanded PriceSmart's Food Rescue & Giving Program into the Caribbean, adding Trinidad and Tobago as the ninth country served by the program.
- Strengthened community engagement through the PriceSmart Foundation, which supports nonprofit organizations and community projects in Honduras, Guatemala, Colombia, and Jamaica.
Access the full Sustainability report at https://investors.pricesmart.com under the ESG tab.
About PriceSmart
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 55 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven in Panama; six in Guatemala; five 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 Quetzaltenango, Guatemala in the summer of 2025. Once this new club is open, the Company will operate 56 warehouse clubs.
This press release may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, adverse changes in economic conditions in our markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of Member, employee or business information, cost increases from product and service providers, interruption of supply chains, novel coronavirus (COVID-19) related factors and challenges, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law. In addition, these risks are not the only risks that the Company faces. The Company could also be affected by additional factors that apply to all companies operating globally and, in the U.S., as well as other risks that are not presently known to the Company or that the Company considers to be immaterial.
For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer, and Principal Accounting Officer, at (858) 404-8826 or by email at [email protected].
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SOURCE PriceSmart, Inc.