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Share Name | Share Symbol | Market | Type |
---|---|---|---|
PriceSmart Inc | NASDAQ:PSMT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.04 | 0.05% | 86.06 | 83.01 | 90.00 | 86.37 | 84.98 | 86.20 | 96,443 | 22:35:38 |
SAN DIEGO, May 21, 2018 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) today announced that in May 2018, it acquired land in Panama and the Dominican Republic upon which the Company plans to construct new warehouse clubs.
In Panama, the site is in the city of Santiago and, upon completion, will be the sixth PriceSmart warehouse club in Panama.
In the Dominican Republic, the site is in the city of Santo Domingo and, upon completion, will be the fifth PriceSmart warehouse club in the Dominican Republic.
Both warehouse clubs are currently expected to open in the Spring of 2019.
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 at low prices to PriceSmart members. PriceSmart now operates 41 warehouse clubs in 12 countries and one U.S. territory (seven each in Colombia and Costa Rica; five in Panama; four each in Trinidad and Dominican Republic; three each in Guatemala and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). Additionally, PriceSmart through its Aeropost subsidiary provides logistics, payment and ecommerce services in Latin America and the Caribbean. Aeropost currently serves customers in 38 countries with Costa Rica, Trinidad and Jamaica as its largest markets.
This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow, proposed warehouse club openings, the Company's performance relative to competitors, the outcome of tax proceedings 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," 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, the following external and internal risks:
External Risks
Internal Risks:
The risks described above as well as the other risks detailed in the Company's U.S. Securities and Exchange Commission ("SEC") reports, including the Company's Annual Report on Form 10-K filed for the fiscal year ended August 31, 2017 filed on October 26, 2017, pursuant to the Securities Exchange Act of 1934, see "Part I - Item 1A - Risk Factors," could materially and adversely affect our business, financial condition and results of operations. 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 currently considers to be immaterial.
For further information, please contact Maarten O. Jager, Principal Financial Officer and Principal Accounting Officer (858) 404-8826.
View original content with multimedia:http://www.prnewswire.com/news-releases/pricesmart-announces-property-acquisitions-in-panama-and-the-dominican-republic-300651334.html
SOURCE PriceSmart, Inc.
Copyright 2018 PR Newswire
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