Q3 2026 PriceSmart Inc Earnings Call Transcript
Key Points
- Net merchandise sales increased by 12.5% year-over-year, reaching almost $1.5 billion for the third quarter.
- Membership accounts grew by 8.6% year-over-year, with a notable increase in Platinum membership sign-ups.
- Digital channel sales reached a record $99.6 million, up 26.2% year-over-year, indicating strong digital engagement.
- The company executed a lease for its first warehouse club in Chile, marking a significant expansion into a new market.
- Gross margin improved by 20 basis points to 16%, driven by better margins in the non-foods category.
- Total SG&A expenses increased slightly to 13.3% of total revenues, primarily due to higher warehouse club and operations costs.
- The company recorded a $10.5 million net loss in total other expenses, mainly due to foreign currency transaction costs.
- Operating income in Colombia declined despite a strong sales performance, impacted by increased warehouse expenses and policy changes.
- Trinidad's currency conversion issues persist, affecting pricing and requiring a premium on goods in the country.
- Preopening expenses in Chile contributed to a 10 basis point increase in SG&A expenses, impacting overall profitability.
-- earnings release conference call for the third-quarter of fiscal year 2026, which ended on May 31, 2026. After remarks from our company's representatives, David Price, Chief Executive Officer; and Gualberto Hernandez, Chief Financial Officer, you will be given an opportunity to ask questions as time permits. As a reminder, this conference call is limited to 1 hour and is being recorded today, Thursday, July 9, 2026. (Operator Instructions).
For opening remarks, I would like to turn the call over to PriceSmart's Chief Financial Officer, Gualberto Hernandez. Please proceed, sir.
Thank you, operator, and welcome to PriceSmart, Inc.'s earnings call for the third quarter of fiscal year 2026, which ended on May 31, 2026. We will be discussing the information that we provided in our earnings press release and our 10-Q, which were both released yesterday on July 8, 2026. Also in these remarks, we refer to non-GAAP financial measures. You can find a reconciliation of our
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