PriceSmart reported higher profit in its third quarter, driven by an increase in its comparable net merchandise sales.

The operator of membership warehouse clubs in Central America, the Caribbean and Colombia, posted net income of $39.7 million, or $1.28 a share compared with $35.2 million, or $1.14 a share, in the same quarter a year earlier.

Revenue rose 13% to $1.48 billion, topping analyst expectations for $1.43 billion.

Net merchandise sales, which make up most of the company's topline, increased 13% to $1.45 billion.

Comparable net merchandise sales, excluding warehouses that have been open less than 13.5 months, increased 11%.

The company ended the quarter with 57 warehouse clubs, compared with 55 in operation a year earlier.

PriceSmart said it leased land to open its first warehouse club in Chile. It also purchased land to open its eleventh warehouse club in Costa Rica.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

July 08, 2026 16:21 ET (20:21 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.