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PriceSmart Inc said Thursday that the opening of two new warehouse clubs in Jamaica has been pushed back following disruptions tied to Hurricane Melissa last October.
The membership-based retailer told investors on its earnings call that its third Jamaican location, in Montego Bay, is now slated for autumn 2026, while a fourth, on South Camp Road in Kingston, is expected to open in winter. The company had previously targeted to open each store a season earlier, that’s about three months prior, according to its November annual report.
“We do not anticipate any further delays to our new club openings at this time,” CEO David Price said in the earnings call.
PriceSmart has purchased five acres in Montego Bay for the new club and leased property opposite Sabina Park cricket ground for the Kingston site. US filings show the company plans to spend about US$27.6 million (J$4.4 billion) in cash on construction. The Kingston lease runs for 30 years, with two 10-year renewal options.
Jamaica currently has two PriceSmart clubs, on Red Hills Road in Kingston and in Portmore, St Catherine. The Kingston branch drew heavy crowds during the Christmas season, with shoppers reportedly waiting up to four hours to check out.
PriceSmart, headquartered in San Diego, USA, operates 56 clubs across 12 countries and one US territory, up from 54 a year earlier. The company posted first-quarter earnings per share of US$1.29, missing forecasts of US$1.35, while revenue rose to US$1.38 billion, ahead of expectations. Shares slipped 1.8 per cent in pre-market trading to US$125.32.
CEO Price said the existing Jamaican clubs “weathered the storm well” and resumed operations quickly. He added that expansion and remodelling of the Portmore club, including larger floor space and more parking, will begin in fiscal 2026. “Increasing club size, improving efficiency, and expanding parking spaces at high-volume locations remain some of the most effective ways to drive sales and enhance the member experience,” he said.
Founded by Sol and Robert Price, the company operates on a model similar to Costco, offering fee-paying members discounts on groceries, electronics and home goods. PriceSmart reported total revenues of US$5.27 billion for the year ended August 31, 2025.
English (US) ·