PRICESMART INC, 10-Q filed on 1/7/2026
Quarterly Report
v3.25.4
COVER - shares
 3 Months Ended
Nov. 30, 2025
Dec. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Nov. 30, 2025  
Document Transition Report false  
Entity File Number 000-22793  
Entity Registrant Name PriceSmart, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 33-0628530  
Entity Address, Address Line One 9797 Aero Drive, Suite 100  
Entity Address, City or Town San Diego  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 92123  
City Area Code 858  
Local Phone Number 404-8800  
Title of 12(b) Security Common Stock, $0.0001 par value  
Trading Symbol PSMT  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   30,815,417
Entity Central Index Key 0001041803  
Current Fiscal Year End Date --08-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Current Assets:    
Cash and cash equivalents $ 206,419 $ 241,024
Short-term restricted cash 9,212 11,061
Short-term investments 114,160 73,186
Receivables, net of allowance for credit losses of $2 as of November 30, 2025 and August 31, 2025 20,791 17,400
Merchandise inventories 618,848 560,730
Prepaid expenses and other current assets 83,189 71,059
Total current assets 1,052,619 974,460
Long-term restricted cash 33,926 33,206
Property and equipment, net 1,035,967 996,281
Operating lease right-of-use assets, net 119,859 113,479
Goodwill 43,240 43,238
Deferred tax assets 42,008 41,229
Other non-current assets (includes $552 and $701 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments) 66,279 60,375
Investment in unconsolidated affiliates 0 6,889
Total Assets 2,393,898 2,269,157
Current Liabilities:    
Short-term borrowings 7,701 12,286
Accounts payable 571,578 506,949
Accrued salaries and benefits 42,327 52,478
Deferred income 44,879 43,061
Income taxes payable 6,086 7,265
Other accrued expenses and other current liabilities (includes $3,340 and $551 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments) 71,863 57,627
Operating lease liabilities, current portion 7,868 7,930
Long-term debt, current portion 36,598 38,675
Total current liabilities 788,900 726,271
Deferred tax liability 653 1,100
Long-term income taxes payable, net of current portion 5,079 4,424
Long-term operating lease liabilities 129,268 122,244
Long-term debt, net of current portion 143,735 147,922
Other long-term liabilities (includes $7,269 and $6,196 for the fair value of derivative instruments and $14,203 and $13,628 for post-employment plans as of November 30, 2025 and August 31, 2025, respectively) 21,473 19,824
Total Liabilities 1,089,108 1,021,785
Stockholders' Equity:    
Common stock $0.0001 par value, 45,000,000 shares authorized; 32,799,742 and 32,688,047 shares issued and 30,816,360 and 30,745,833 shares outstanding (net of treasury shares) as of November 30, 2025 and August 31, 2025, respectively 3 3
Additional paid-in capital 535,032 529,354
Accumulated other comprehensive loss (144,796) (161,439)
Retained earnings 1,039,592 999,426
Less: treasury stock at cost, 1,983,382 shares as of November 30, 2025 and 1,942,214 shares as of August 31, 2025 (125,041) (119,972)
Total Stockholders' Equity 1,304,790 1,247,372
Total Liabilities and Equity $ 2,393,898 $ 2,269,157
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Statement of Financial Position [Abstract]    
Receivables, allowance for doubtful accounts $ 2 $ 2
Derivative asset, noncurrent 552 701
Fair value, liabilities, current 3,340 551
Other long-term liabilities, fair value of derivative instruments 7,269 6,196
Other long-term liabilities, post-employment plans $ 14,203 $ 13,628
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 45,000,000 45,000,000
Common stock, shares issued (in shares) 32,799,742 32,688,047
Common stock, shares outstanding (in shares) 30,816,360 30,745,833
Treasury stock (in shares) 1,983,382 1,942,214
v3.25.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Revenues:    
Total revenues $ 1,382,729 $ 1,257,944
Cost of goods sold:    
Cost of goods sold 1,138,344 1,038,890
Selling, general and administrative:    
Warehouse club and other operations 131,815 117,855
General and administrative 49,308 42,565
Pre-opening expenses 2 22
Loss on disposal of assets 333 352
Total operating expenses 1,319,802 1,199,684
Operating income (loss) 62,927 58,260
Other income (expense):    
Interest income 2,949 2,220
Interest expense (4,420) (2,695)
Other expense, net (5,761) (6,856)
Total other expense (7,232) (7,331)
Income before provision for income taxes and loss of unconsolidated affiliates 55,695 50,929
Provision for income taxes (15,529) (13,496)
Loss of unconsolidated affiliates 0 (5)
Net income (loss) $ 40,166 $ 37,428
Net income per share available for distribution:    
Basic (in dollars per share) $ 1.29 $ 1.21
Diluted (in dollars per share) $ 1.29 $ 1.21
Shares used in per share computations:    
Basic (in shares) 30,173 30,019
Diluted (in shares) 30,180 30,020
Net merchandise sales    
Revenues:    
Total revenues $ 1,353,796 $ 1,223,859
Cost of goods sold:    
Cost of goods sold 1,138,182 1,029,877
Export sales    
Revenues:    
Total revenues 127 9,618
Cost of goods sold:    
Cost of goods sold 162 9,013
Membership income    
Revenues:    
Total revenues 23,420 20,199
Other revenue and income    
Revenues:    
Total revenues $ 5,386 $ 4,268
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 40,166 $ 37,428
Other Comprehensive Income, net of tax:    
Foreign currency translation adjustments [1] 15,526 (2,853)
Defined benefit pension plan:    
Net gain (loss) arising during period 3 (7)
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 43 78
Total defined benefit pension plan 46 71
Derivative instruments:    
Unrealized gains (losses) on change in derivative obligations [2] 3,556 (238)
Unrealized losses on change in fair value of interest rate swaps [2] (2,485) (2,140)
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2] 0 2,144
Total derivative instruments [2] 1,071 (234)
Other comprehensive income (loss) 16,643 (3,016)
Comprehensive income $ 56,809 $ 34,412
[1] Translation adjustments arising in translating the financial statements of a foreign entity have no effect on the income taxes of that foreign entity. They may, however, affect: (a) the amount, measured in the parent entity's reporting currency, of withholding taxes assessed on dividends paid to the parent entity and (b) the amount of taxes assessed on the parent entity by the government of its country. The Company has determined that the reinvestment of earnings of its foreign subsidiaries are indefinite because of the long-term nature of the Company's foreign investment plans. Therefore, deferred taxes are not provided for on translation adjustments related to non-remitted earnings of the Company's foreign subsidiaries.
[2] See Note 8 - Derivative Instruments and Hedging Activities.
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Retained Earnings
Treasury Stock
Beginning balance (in shares) at Aug. 31, 2024   32,571,000        
Beginning balance at Aug. 31, 2024 $ 1,122,965 $ 3 $ 514,542 $ (164,590) $ 890,272 $ (117,262)
Treasury stock, beginning balance (in shares) at Aug. 31, 2024           1,935,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Purchase of treasury stock (in shares)           36,000
Purchase of treasury stock (3,292)         $ (3,292)
Issuance of restricted stock awards (in shares)   66,000        
Forfeiture of restricted stock awards (in shares)   (3,000)        
Stock-based compensation 4,493   4,493      
Net income 37,428       37,428  
Other comprehensive (loss) income (3,016)     (3,016)    
Ending balance (in shares) at Nov. 30, 2024   32,634,000        
Ending balance at Nov. 30, 2024 $ 1,158,578 $ 3 519,035 (167,606) 927,700 $ (120,554)
Treasury stock, ending balance (in shares) at Nov. 30, 2024           1,971,000
Beginning balance (in shares) at Aug. 31, 2025 30,745,833 32,688,000        
Beginning balance at Aug. 31, 2025 $ 1,247,372 $ 3 529,354 (161,439) 999,426 $ (119,972)
Treasury stock, beginning balance (in shares) at Aug. 31, 2025 1,942,214         1,942,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Purchase of treasury stock (in shares)           41,000
Purchase of treasury stock $ (5,069)         $ (5,069)
Issuance of restricted stock awards (in shares)   154,000        
Forfeiture of restricted stock awards (in shares)   (42,000)        
Stock-based compensation 5,678   5,678      
Net income 40,166       40,166  
Other comprehensive (loss) income $ 16,643     16,643    
Ending balance (in shares) at Nov. 30, 2025 30,816,360 32,800,000        
Ending balance at Nov. 30, 2025 $ 1,304,790 $ 3 $ 535,032 $ (144,796) $ 1,039,592 $ (125,041)
Treasury stock, ending balance (in shares) at Nov. 30, 2025 1,983,382         1,983,000
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Operating Activities:    
Net income $ 40,166 $ 37,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,977 20,862
Loss on sale of property and equipment 333 352
Deferred income taxes (1,502) 907
Equity in losses of unconsolidated affiliates 0 5
Gain on sale of joint venture (594) 0
Stock-based compensation 5,678 4,493
Change in operating assets and liabilities:    
Receivables, prepaid expenses and other current assets, non-current assets, accrued salaries and benefits, deferred membership income and other accruals (540) (19,269)
Merchandise inventories (58,118) (57,172)
Accounts payable 61,845 50,924
Net cash provided by operating activities 71,245 38,530
Investing Activities:    
Additions to property and equipment (38,611) (28,181)
Purchases of short-term investments (66,675) (38,313)
Proceeds from settlements of short-term investments 25,662 37,147
Purchases of long-term investments (11,882) 0
Proceeds from dissolution of investment in joint venture 1,057 0
Proceeds from disposal of property and equipment 182 41
Net cash used in investing activities (90,267) (29,306)
Financing Activities:    
Proceeds from long-term bank borrowings 0 5,441
Repayment of long-term bank borrowings (6,144) (19,943)
Proceeds from short-term bank borrowings 3,429 524
Repayment of short-term bank borrowings (8,366) (318)
Purchase of treasury stock (5,069) (3,292)
Net cash used in financing activities (16,150) (17,588)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (562) 8,514
Net increase (decrease) in cash, cash equivalents (35,734) 150
Cash, cash equivalents and restricted cash at beginning of period 285,291 136,311
Cash, cash equivalents and restricted cash at end of period 249,557 136,461
Supplemental disclosure of noncash investing activities:    
Capital expenditures accrued, but not yet paid 3,552 4,962
Right-of-use assets obtained in exchange for lease liabilities 7,910 6,355
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 206,419 120,943
Short-term restricted cash 9,212 3,309
Long-term restricted cash 33,926 12,209
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 249,557 $ 136,461
v3.25.4
COMPANY OVERVIEW AND BASIS OF PRESENTATION
 3 Months Ended
Nov. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
COMPANY OVERVIEW AND BASIS OF PRESENTATION COMPANY OVERVIEW AND BASIS OF PRESENTATION
PriceSmart, Inc.’s (“PriceSmart,” the “Company,” “we” or “our”) business consists primarily of international membership shopping warehouse clubs similar to, but typically smaller in size than, warehouse clubs in the United States. As of November 30, 2025, the Company had 56 warehouse clubs in operation in 12 countries and one U.S. territory (ten in Colombia; nine in Costa Rica; seven each in Panama and 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), of which the Company owns 100% of the corresponding legal entities (see Note 2 - Summary of Significant Accounting Policies). In addition, the Company plans to open one new warehouse club in La Romana, Dominican Republic in the spring of 2026, one warehouse club in each of Montego Bay and South Camp Road (Kingston), Jamaica in the fall and winter of 2026, respectively, and one warehouse club in Ciudad Quesada, Costa Rica in the fall of 2026. Once these four new clubs are open, the Company will operate 60 warehouse clubs. Our operating segments are the United States, Central America, the Caribbean and Colombia.
PriceSmart continues to invest in technology and talent to support the following three major drivers of growth:
1.Invest in Adding New PriceSmart Locations, Remodeling Current PriceSmart Clubs and Opening More Distribution Centers;
2.Increase Membership Value; and
3.Drive Incremental Sales via PriceSmart.com and Enhanced Digital and Technological Capabilities.
Basis of Presentation – The interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).
These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2025 (the “2025 Form 10-K”). The interim consolidated financial statements include the accounts of PriceSmart, Inc., a Delaware corporation, and its subsidiaries. Intercompany transactions between the Company and its subsidiaries have been eliminated in consolidation.
Throughout this Quarterly Report, we refer to various trademarks and trade names that we use in our business. Other trademarks, service marks or trade names referred to in this Quarterly Report are the property of their respective owners.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Nov. 30, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation – The consolidated financial statements of the Company included herein include the assets, liabilities and results of operations of the Company’s wholly owned subsidiaries and subsidiaries in which it has a controlling interest. The consolidated financial statements also include the Company's investment in, and the Company's share of the income (loss) of, joint ventures recorded under the equity method. All significant inter-company accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the SEC and reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to fairly present the financial position, results of operations and cash flows for the periods presented. The results for interim periods are not necessarily indicative of the results for the year.
The Company determines whether any of the joint ventures in which it has made investments are a Variable Interest Entity (“VIE”) at the start of each new venture and if a reconsideration event has occurred. The Company also considers whether it must consolidate a VIE and/or disclose information about its involvement in a VIE. A reporting entity must consolidate a VIE if that reporting entity has a variable interest (or combination of variable interests) and is determined to be the primary beneficiary. If the Company determines that it is not the primary beneficiary of the VIE, then the Company records its investment in, and the Company's share of the income (loss) of, joint ventures recorded under the equity method.
In the first quarter of fiscal year 2026, the Company dissolved its ownership in the GolfPark Plaza, S.A. joint venture. As a result of this dissolution, the Company recognized a gain of approximately $600,000 in Other income (expense) on the consolidated statements of income for the quarter ended November 30, 2025. The Company used a market-based valuation model to determine the fair value of the two plots of land received at $6.4 million. The Company also received cash and other assets of approximately $1.1 million.
Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ from those estimates and assumptions.
Cash and Cash Equivalents – The Company considers cash and cash equivalents as all cash on deposit, highly liquid investments with a maturity of three months or less at the date of purchase and proceeds due from credit and debit card transactions in the process of settlement. In addition, the Company invests some of our cash in money market funds which are considered equity securities and are held at fair value in Cash and cash equivalents on the consolidated balance sheets. The fair value of money market funds held was $31.9 million as of November 30, 2025 and $32.1 million as of August 31, 2025. We receive interest payments from the money market funds, which are recorded in the Interest income line item under the Total other expense caption within the consolidated statements of income.
Restricted Cash – The following table summarizes the restricted cash reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Short-term restricted cash$9,212 $11,061 
Long-term restricted cash33,926 33,206 
Total restricted cash (1)
$43,138 $44,267 
(1)Restricted cash consists of cash deposits held within banking institutions in compliance with federal regulatory requirements in Costa Rica and Panama. In addition, the Company is required to maintain certificates of deposit and/or security deposits of Trinidad dollars, as measured in U.S. dollars, of approximately $23.0 million, and certificates of deposit and/or security deposits in U.S. dollars of approximately $12.3 million with a few of its lenders as compensating balances for several U.S. dollar and euro denominated loans payable over several years. The increase in restricted cash compared to the prior year is primarily due to security deposits related to our financing transactions we entered into in the fourth quarter of fiscal year 2025 to provide additional U.S. dollar liquidity to our Trinidad subsidiary. The certificates of deposit will be reduced annually commensurate with the loan balances.
Short-Term Investments – The Company considers certificates of deposit and similar time-based deposits with financial institutions with original maturities over three months and up to one year to be short-term investments.
Long-Term Investments – The Company considers certificates of deposit and similar time-based deposits with financial institutions with original maturities over one year to be long-term investments.
Goodwill – Goodwill totaled $43.2 million as of November 30, 2025 and August 31, 2025. The Company reviews reported goodwill at the reporting unit level for impairment. The Company tests goodwill for impairment at least annually or when events or changes in circumstances indicate that it is more likely than not that the asset is impaired.
Receivables – Receivables consist primarily of credit card receivables and receivables from vendors and are stated net of allowances for credit losses. The determination of the allowance for credit losses is based on the Company’s assessment of collectability along with the consideration of current and expected market conditions that could impact collectability.
Tax Receivables – The Company pays Value Added Tax (“VAT”) or similar taxes, income taxes, and other taxes within the normal course of business in most of the countries in which it operates related to the procurement of merchandise and/or services the Company acquires and/or on sales and taxable income. VAT is a form of indirect tax applied to the value added at each stage of production (primary, manufacturing, wholesale, and retail). This tax is similar to, but operates somewhat differently than, sales tax paid in the United States. The Company generally collects VAT from its Members upon sale of goods and services and pays VAT to its vendors upon purchase of goods and services. Periodically, the Company submits VAT reports to governmental agencies and reconciles the VAT paid and VAT received. The net overpaid VAT may be refunded or applied to subsequent returns, and the net underpaid VAT must be remitted to the government. With respect to income taxes paid, if the estimated income taxes paid or withheld exceed the actual income tax due this creates an income tax receivable. In most countries where the Company operates, the governments have implemented additional collection procedures, such as requiring credit card processors to remit a portion of sales processed via credit and debit cards directly to the government as advance payments of VAT and/or income tax. This collection mechanism generally leaves the Company with net VAT and/or income tax receivables, forcing the Company to process significant refund claims on a recurring basis. These refund or offset processes can take anywhere from several months to several years to complete. Additionally, we are occasionally required to make payments under protest for tax assessments that we are appealing, notwithstanding that we believe it is more likely than not we will ultimately prevail.
Minimum tax rules, applicable in some of the countries where the Company operates, require the Company to pay taxes based on a percentage of sales if the resulting tax were greater than the tax payable based on a percentage of income (Alternative Minimum Tax or "AMT"). This can result in AMT payments substantially in excess of taxes the Company would expect to pay based on taxable income. As the Company believes that, in one country where it operates, it should ultimately only be liable for an income-based tax, it has accumulated income tax receivables of $10.4 million and $10.5 million and deferred tax assets of $4.3 million and $3.9 million as of November 30, 2025 and August 31, 2025, respectively, in this country. While the rules related to refunds of income tax receivables in this country are unclear and complex, the Company has not placed any type of allowance on the recoverability of these tax receivables, deferred tax assets or amounts that may be deemed underpaid, because the Company believes that it is more likely than not that it will ultimately succeed in its refund requests and appeals of these rules.
The Company's various outstanding VAT receivables and/or income tax receivables are based on cases or appeals with their own set of facts and circumstances. The Company consults and evaluates with legal and tax advisors regularly to understand the strength of its legal arguments and probability of successful outcomes in addition to its own experience handling complex tax issues. Based on those evaluations, the Company has not placed any type of allowance on the recoverability of the remaining tax receivables or deferred tax assets because the Company believes that it is more likely than not that it will ultimately succeed in its refund requests.
The Company’s policy for classification and presentation of VAT receivables, income tax receivables and other tax receivables is as follows:
•Short-term VAT and Income tax receivables, recorded as Prepaid expenses and other current assets: This classification is used for any countries where the Company’s subsidiary has generally demonstrated the ability to recover the VAT or income tax receivable within one year. The Company also classifies as short-term any approved refunds or credit notes to the extent that the Company expects to receive the refund or use the credit notes within one year.
•Long-term VAT and Income tax receivables, recorded as Other non-current assets: This classification is used for amounts not approved for refund or credit in countries where the Company’s subsidiary has not demonstrated the ability to obtain refunds within one year and/or for amounts which are subject to outstanding disputes. An allowance is provided against VAT and income tax receivable balances in dispute when the Company does not expect to eventually prevail in its recovery. The Company does not currently have any allowances provided against VAT and income tax receivables.
The following table summarizes the VAT receivables reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Prepaid expenses and other current assets$8,646 $7,387
Other non-current assets26,237 28,431
Total amount of VAT receivables reported$34,883 $35,818
The following table summarizes the income tax receivables reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Prepaid expenses and other current assets$29,078 $25,169
Other non-current assets21,268 23,181
Total amount of income tax receivables reported$50,346 $48,350
Lease Accounting – The Company’s leases are operating leases for warehouse clubs and non-warehouse club facilities such as corporate headquarters, regional offices, and regional distribution centers. The Company determines if an arrangement is a lease and classifies it as either a finance or operating lease at lease inception. Operating leases are included in Operating lease right-of-use assets, net; Operating lease liabilities, current portion; and Long-term operating lease liabilities on the consolidated balance sheets. The Company does not have finance leases.
Operating lease liabilities are recognized at the commencement date based on the present value of the future minimum lease payments over the lease term. The Company’s leases generally do not have a readily determinable implicit interest rate; therefore, the Company uses a collateralized incremental borrowing rate at the commencement date in determining the present value of future payments. The incremental borrowing rate is based on a yield curve derived from publicly traded bond offerings for companies with credit characteristics that approximate the Company's market risk profile.
In addition, we adjust the incremental borrowing rate for jurisdictional risk derived from quoted interest rates from financial institutions to reflect the cost of borrowing in the Company’s local markets. The Company’s lease terms may include options to purchase, extend or terminate the lease, which are recognized when it is reasonably certain that the Company will exercise that option. The Company does not combine lease and non-lease components.
The Company measures Right-of-use (“ROU”) assets based on the corresponding lease liabilities, adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date (net of lease incentives). The lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and the related lease liability and are recognized as incurred. The Company’s variable lease payments generally relate to amounts the Company pays for additional contingent rent based on a contractually stipulated percentage of sales.
Merchandise Inventories – Merchandise inventories, which include merchandise for resale, are valued at the lower of cost (average cost) or net realizable value. The Company provides for estimated inventory losses and obsolescence based on a percentage of sales. The provision is adjusted every reporting period to reflect the trend of actual physical inventory and cycle count results. In addition, the Company may be required to take markdowns below the carrying cost of certain inventory to expedite the sale of such merchandise.
Stock Based Compensation – The Company utilizes three types of equity awards: restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). Compensation cost related to RSAs, RSUs and PSUs is based on the fair market value at the time of the grant. The Company recognizes the compensation cost related to RSAs and RSUs over the requisite service period as determined by the grant, amortized ratably or on a straight-line basis over the life of the grant. The Company also recognizes compensation cost for PSUs over the performance period of each tranche, adjusting this cost based on the Company's estimate of the probability that performance metrics will be achieved.
The Company accounts for actual forfeitures as they occur. The Company records the tax savings resulting from tax deductions in excess of expense for stock-based compensation and the tax deficiency resulting from stock-based compensation in excess of the related tax deduction as income tax expense or benefit. In addition, the Company reflects the tax savings (deficiency) resulting from the taxation of stock-based compensation as an operating cash flow in its consolidated statement of cash flows.
RSAs are outstanding shares of common stock and have the same cash dividend and voting rights as other shares of common stock. Shares of common stock subject to RSUs are not issued nor outstanding until vested, and RSUs do not have the same dividend and voting rights as common stock. However, all outstanding RSUs have accompanying dividend equivalents, requiring payment to the employees and directors with unvested RSUs of amounts equal to the dividend they would have received had the shares of common stock underlying the RSUs been actually issued and outstanding. Payments of dividend equivalents to employees are recorded as compensation expense.
PSUs, similar to RSUs, are awarded with dividend equivalents, subject to achievement of applicable performance criteria.
Treasury Stock – Shares of common stock repurchased by the Company are recorded at cost, including transaction costs and excise taxes, as treasury stock and result in the reduction of stockholders’ equity in the Company’s consolidated balance sheets. The Company may reissue these treasury shares as part of its stock-based compensation programs or in other transactions. When treasury shares are reissued, the Company uses the first in/first out (“FIFO”) cost method for determining cost of the reissued shares. If the issuance price is higher than the cost, the excess of the issuance price over the cost is credited to additional paid-in capital (“APIC”). If the issuance price is lower than the cost, the difference is first charged against any credit balance in APIC from treasury stock, and the balance is charged to retained earnings. During the three months ended November 30, 2025, the Company did not reissue any treasury shares.
Fair Value Measurements – The Company measures the fair value for all financial and non-financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring or nonrecurring basis. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor.
ASC 820, Fair Value Measurements and Disclosures, sets forth a fair value hierarchy that categorizes inputs to valuation techniques used to measure and revalue fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company was not required to revalue any assets or liabilities utilizing Level 1 or Level 3 inputs at the balance sheet dates. The Company's Level 2 assets and liabilities revalued at the balance sheet dates, on a recurring basis, consisted of cash flow hedges (interest rate swaps and cross-currency interest rate swaps) and forward foreign exchange contracts. In addition, the Company utilizes Level 2 inputs in determining the fair value of long-term debt.
Non-financial assets and liabilities are revalued and recognized at fair value subsequent to initial recognition when there is evidence of impairment. For the periods reported, no impairment of such non-financial assets was recorded.
The Company’s current and long-term financial assets and liabilities have fair values that approximate their carrying values. The Company’s long-term financial liabilities consist of long-term debt, which is recorded on the balance sheet at issuance price and adjusted for any applicable unamortized discounts or premiums and debt issuance costs. There have been no significant changes in the fair market value of the Company’s current and long-term financial assets and liabilities, and there have been no material changes to the valuation techniques utilized in the fair value measurement of assets and liabilities disclosed in the Company’s 2025 Annual Report on Form 10-K.
Derivative Instruments and Hedging Activities – The Company uses derivative financial instruments for hedging and non-trading purposes to manage its exposure to changes in interest and currency exchange rates. In using derivative financial instruments for the purpose of hedging the Company’s exposure to interest and currency exchange rate risks, the contractual terms of a hedged instrument closely mirror those of the hedged item and are intended to provide a high degree of risk reduction and correlation. Contracts that are effective at meeting the risk reduction and correlation criteria (effective hedge) are recorded using hedge accounting. If a derivative financial instrument is an effective hedge, changes in the fair value of the instrument will be reported in accumulated other comprehensive loss until the hedged item completes its contractual term. Instruments that do not meet the criteria for hedge accounting, or contracts for which the Company has not elected hedge accounting, are valued at fair value with unrealized gains or losses reported in earnings during the period of the change.
The Company did not change valuation techniques utilized in the fair value measurement of assets and liabilities presented on the Company’s consolidated balance sheets from previous practice during the reporting period. The Company seeks to manage counterparty risk associated with these contracts by limiting transactions to counterparties with which the Company has an established banking relationship. There can be no assurance, however, that this practice effectively mitigates counterparty risk.
Cash Flow Instruments. The Company is a party to receive floating interest rate and pay fixed-rate interest rate swaps to hedge the interest rate risk of certain U.S. dollar-denominated debt within its international subsidiaries. The swaps are designated as cash flow hedges of interest expense risk. These instruments are considered effective hedges and are recorded using hedge accounting. The Company is also a party to receive variable or fixed interest rate and pay fixed interest rate cross-currency interest rate swaps to hedge the interest rate and currency exposure associated with the expected payments of principal and interest of U.S. dollar-denominated debt within its international subsidiaries whose functional currency is other than the U.S. dollar. The swaps are designated as cash flow hedges of the currency risk and interest rate risk related to payments on the U.S. dollar-denominated debt. These instruments are also considered to be effective hedges and are recorded using hedge accounting. Under cash flow hedging, the entire gain or loss of the derivative, calculated as the net present value of the future cash flows, is reported on the consolidated balance sheets in accumulated other comprehensive loss. Amounts recorded in accumulated other comprehensive loss are released to earnings in the same period that the hedged transaction impacts consolidated earnings. Refer to “Note 8 - Derivative Instruments and Hedging Activities” for information on the fair value of interest rate swaps and cross-currency interest rate swaps as of November 30, 2025 and August 31, 2025.
Fair Value Instruments. The Company is exposed to foreign currency exchange rate fluctuations in the normal course of business. This includes exposure to foreign currency exchange rate fluctuations on U.S. dollar-denominated liabilities within the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, through the use of non-deliverable forward foreign-exchange contracts that are intended to offset changes in cash flows attributable to currency exchange movements. The contracts are intended primarily to economically address exposure to U.S. dollar merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. Currently, these contracts are treated for accounting purposes as fair value instruments and do not qualify for derivative hedge accounting, and as such, the Company does not apply derivative hedge accounting to record these transactions. As a result, these contracts are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. The Company seeks to mitigate foreign currency exchange-rate risk with the use of these contracts and does not intend to engage in speculative transactions. These contracts do not contain any credit-risk-related contingent features and are limited to less than one year in duration.
Revenue Recognition – The accounting policies and other disclosures such as the disclosure of disaggregated revenues are described in “Note 3 – Revenue Recognition.”
Cost of Goods Sold – The Company includes the cost of merchandise and food service and bakery raw materials in cost of goods sold - net merchandise sales. The Company also includes in cost of goods sold - net merchandise sales the external and internal distribution and handling costs for supplying merchandise, raw materials and supplies to the warehouse clubs, and, when applicable, costs of shipping to Members. External costs include inbound freight, duties, drayage, fees, insurance, and non-recoverable value-added tax related to inventory shrink, spoilage and damage. Internal costs include payroll and related costs, utilities, consumable supplies, repair and maintenance, rent expense and building and equipment depreciation at the Company's distribution facilities and payroll and other direct costs for in-club demonstrations.
For export sales, the Company includes the cost of merchandise and external and internal distribution and handling costs for supplying merchandise in cost of goods sold - exports.
Vendor consideration consists primarily of volume rebates, time-limited product promotions, cooperative marketing efforts, digital advertising, slotting fees, demonstration reimbursements and prompt payment discounts. Volume rebates and time-limited promotions are recognized on a systematic and rational allocation of the cash consideration as the Company progresses toward earning the rebate, provided the amounts to be earned are probable and reasonably estimable. Cooperative marketing efforts and digital advertising are related to consideration received by the Company from vendors for non-distinct online advertising services on the Company’s website and social media platforms. Slotting fees are related to consideration received by the Company from vendors for preferential "end cap" placement of the vendor's products within the warehouse club. Demonstration reimbursements are related to consideration received by the Company from vendors for the in-club promotion of the vendors' products. The Company records the reduction in cost of goods sold on a transactional basis for these programs. On a quarterly basis, the Company calculates the amount of rebates recorded in cost of goods sold that relates to inventory on hand and this amount is reclassified as a reduction to inventory, if significant. Prompt payment discounts are taken in substantially all cases and therefore are applied directly to reduce the acquisition cost of the related inventory, with the resulting effect recorded to cost of goods sold when the inventory is sold.
Selling, General and Administrative – Selling, general and administrative costs consist primarily of expenses associated with operating warehouse clubs and non-income based taxes such as alternative minimum taxes based on revenue or sales. These costs include payroll and related costs, utilities, consumable supplies, repair and maintenance, rent expense, building and equipment depreciation, bank fees, credit card processing fees, and amortization of intangibles. Also included in selling, general and administrative expenses are the payroll and related costs for the Company’s U.S. and regional management and purchasing centers.
Pre-Opening Costs – The Company expenses pre-opening costs (the costs of start-up activities, including organization costs and rent) for new warehouse clubs as incurred.
Asset Impairment and Closure Costs – The Company periodically evaluates its long-lived assets for indicators of impairment. Management's judgments are based on market and operational conditions at the time of the evaluation and can include management's best estimate of future business activity. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair value. Future business conditions and/or activity could differ materially from the projections made by management, causing the need for additional impairment charges.
Loss Contingencies and Litigation – The Company records and reserves for loss contingencies if (a) information available prior to issuance of the consolidated financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the consolidated financial statements and (b) the amount of loss can be reasonably estimated. If one or both criteria for accrual are not met, but there is at least a reasonable possibility that a material loss will occur, the Company does not record and reserve for a loss contingency but describes the contingency within a note and provides detail, when possible, of the estimated potential loss or range of loss. If an estimate cannot be made, a statement to that effect is made.
Foreign Currency Translation – The assets and liabilities of the Company’s foreign operations are translated to U.S. dollars when the functional currency in the Company’s international subsidiaries is the local currency and not U.S. dollars. Assets and liabilities of these foreign subsidiaries are translated to U.S. dollars at the exchange rate on the balance sheet date, and revenue, costs and expenses are translated at average rates of exchange in effect during the period. The corresponding translation gains and losses are recorded as a component of accumulated other comprehensive income or loss. These adjustments will affect net income upon the sale or liquidation of the underlying investment.
The following table discloses the net effect of translation into the reporting currency on other comprehensive income (loss) for these local currency denominated accounts for the three months ended November 30, 2025 and November 30, 2024 (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Effect on other comprehensive income (loss) due to foreign currency restatement$15,526 $(2,853)
Monetary assets and liabilities denominated in currencies other than the functional currency of the respective entity (primarily U.S. dollars) are revalued to the functional currency using the exchange rate on the balance sheet date. These foreign exchange transaction gains (losses), including transactions recorded involving these monetary assets and liabilities, are recorded as Other income (expense) in the consolidated statements of income (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Currency loss$(6,240)$(6,718)
Recent Accounting Pronouncements - Not Yet Adopted
FASB ASC 740 ASU 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. ASU No. 2023-09 focuses on income tax disclosures around effective tax rates and cash income taxes paid. The ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company expects to adopt ASU No. 2023-09 for our annual reporting for fiscal year 2026. The Company is evaluating the impact on the Company's consolidated financial statements.
FASB ASC 220 ASU 2024-03—Income Statement (Topic 220): Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU No. 2024-04, Disaggregation of Income Statement Expenses. ASU No. 2024-03 requires disaggregated disclosure of income statement expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. Early adoption is permitted. The Company expects to adopt ASU No. 2024-03 for our annual reporting for fiscal year 2028. The Company has not yet completed its assessment of the impact of ASU No. 2024-03 on the Company's consolidated financial statements.
v3.25.4
REVENUE RECOGNITION
 3 Months Ended
Nov. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Performance Obligations
The Company identifies each distinct performance obligation to transfer goods (or bundle of goods) or services. The Company recognizes revenue when (or as) it satisfies a performance obligation by transferring control of the goods or services to the customer.
Net Merchandise Sales. The Company recognizes merchandise sales revenue, net of sales taxes, on transactions where the Company has determined that it is the principal in the sale of merchandise. These transactions may include shipping commitments and/or shipping revenue if the transaction involves delivery to the customer.
Membership Fee Revenue. Membership income represents annual membership fees paid by the Company’s warehouse club Members, which are recognized ratably over the 12-month term of the membership. Our membership policy allows Members to cancel their membership in the first 60 days and receive a full refund. After the 60-day period, membership refunds are prorated over the remaining term of the membership. The Company has significant experience with membership refund patterns and expects membership refunds will not be material. Therefore, no refund reserve was required for the periods presented. Membership fee revenue is included in membership income in the Company's consolidated statements of income. The deferred membership fee is included in deferred income in the Company's consolidated balance sheets.
Platinum Points Reward Programs. The Company currently offers Platinum Memberships in all of its markets. The Platinum Membership provides Members with a 2% rebate on most items, up to an annual maximum of $500. The rebate is issued annually to Platinum Members on March 1 and expires August 31. Platinum Members can apply this rebate to future purchases at the warehouse club during the redemption period. The Company records this 2% rebate as a reduction of revenue at the time of the sales transaction. Accordingly, the Company has reduced warehouse sales and has accrued a liability within other accrued expenses and other current liabilities. The Company has determined that breakage revenue is 5% of the awards issued; therefore, it records 95% of the Platinum Membership liability at the time of sale. Annually, the Company reviews for expired unused rebates outstanding, and the expired unused rebates are recognized as Other revenue and income on the consolidated statements of income.
Co-branded Credit Card Points Reward Programs. Most of the Company’s subsidiaries have points reward programs related to co-branded credit cards. These points reward programs provide incremental points that a Member can use at a future time to acquire merchandise within the Company’s warehouse clubs. This results in two performance obligations, the first performance obligation being the initial sale of the merchandise or services purchased with the co-branded credit card and the second performance obligation being the future use of the points rewards to purchase merchandise or services. As a result, upon the initial sale, the Company allocates the transaction price to each performance obligation with the amount allocated to the future use points rewards recorded as a contract liability within other accrued expenses and other current liabilities on the consolidated balance sheet. The portion of the selling price allocated to the reward points is recognized as Net merchandise sales when the points are used or when the points expire. The Company reviews on an annual basis expired points rewards outstanding, and the expired rewards are recognized as Net merchandise sales on the consolidated statements of income within markets where the co-branded credit card agreement allows for such treatment.
Gift Cards. Members’ purchases of gift cards to be utilized at the Company's warehouse clubs are not recognized as sales until the card is redeemed and the customer purchases merchandise using the gift card. The outstanding gift cards are reflected as other accrued expenses and other current liabilities in the consolidated balance sheets. These gift cards generally have a one-year stated expiration date from the date of issuance and are generally redeemed prior to expiration. However, the absence of a large volume of transactions for gift cards impairs the Company's ability to make a reasonable estimate of the redemption levels for gift cards; therefore, the Company assumes a 100% redemption rate prior to expiration of the gift cards. The Company periodically reviews unredeemed outstanding gift cards, and the gift cards that have expired are recognized as Other revenue and income on the consolidated statements of income.
Co-branded Credit Card Revenue Sharing Agreements. As part of the co-branded credit card agreements that the Company has entered into with financial institutions within its markets, the Company often enters into revenue sharing agreements. As part of these agreements, in some countries, the Company receives a portion of the interest income generated from the average outstanding balances on the co-branded credit cards from these financial institutions (“interest generating portfolio” or “IGP”). The Company recognizes its portion of interest received as revenue during the period it is earned. The Company has determined that this revenue should be recognized as “Other revenue and income” on the consolidated statements of income.
Contract Performance Liabilities
Contract performance liabilities as a result of transactions with customers primarily consist of deferred membership income, other deferred income, deferred gift card revenue, Platinum points programs, and liabilities related to co-branded credit card points rewards programs which are included in deferred income and other accrued expenses and other current liabilities in the Company’s consolidated balance sheets. The following table provides these contract balances from transactions with customers as of the dates listed (in thousands):
Contract Liabilities
November 30,
2025		August 31,
2025
Deferred membership income$43,443 $41,739 
Other contract performance liabilities$31,165 $20,327 
Disaggregated Revenues
In the following table, net merchandise sales are disaggregated by merchandise category (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Foods & Sundries$637,957 $579,999 
Fresh Foods415,575 366,284 
Hardlines
144,925 144,195 
Softlines
82,359 67,888 
Food Service and Bakery
59,471 54,030 
Health Services
13,509 11,463 
Net Merchandise Sales$1,353,796 $1,223,859 
v3.25.4
EARNINGS PER SHARE
 3 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The Company presents basic net income per share using the two-class method. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders and that determines basic net income per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings that would have been available to common stockholders. A participating security is defined as a security that may participate in undistributed earnings with common stock. The Company’s capital structure includes securities that participate with common stock on a one-for-one basis for distribution of dividends. These are the restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance stock units (“PSUs”) issued pursuant to the 2013 Equity Incentive Award Plan, provided that the Company does not include PSUs as participating securities until the performance conditions have been met. RSAs are outstanding shares of common stock and have the same cash dividend and voting rights as other shares of common stock. Shares of common stock subject to RSUs are not issued nor outstanding until vested, and RSUs do not have the same dividend and voting rights as common stock. However, all outstanding RSUs have accompanying dividend equivalents, requiring payment to the employees and directors with unvested RSUs of amounts equal to the dividend they would have received had the shares of common stock underlying the RSUs been actually issued and outstanding. PSUs, similar to RSUs, are awarded with dividend equivalents, provided that such amounts become payable only if the performance criteria are achieved. At the time the Compensation Committee confirms the performance criteria have been achieved, the corresponding dividend equivalents are paid on the PSUs. The Company determines the diluted net income per share by using the more dilutive of the two class-method or the treasury stock method and by including the basic weighted average of outstanding performance stock units in the calculation of diluted net income per share under the two-class method and including all potential common shares assumed issued in the calculation of diluted net income per share under the treasury stock method.
The following table sets forth the computation of net income per share for the three months ended November 30, 2025 and November 30, 2024 (in thousands, except per share amounts):
Three Months Ended
November 30,
2025		November 30,
2024
Net income
$40,166$37,428
Less: Allocation of income to unvested stockholders(1,227)(1,043)
Net income available for distribution$38,939$36,385
Basic weighted average shares outstanding30,17330,019
Add dilutive effect of performance stock units (two-class method)71
Diluted average shares outstanding30,18030,020
Basic net income per share$1.29$1.21
Diluted net income per share$1.29$1.21
v3.25.4
STOCKHOLDERS' EQUITY
 3 Months Ended
Nov. 30, 2025
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Dividends
No dividends were declared by the Company’s Board of Directors during the first three months of fiscal year 2026. The following table summarizes the dividends declared and paid during fiscal year 2025 (amounts are per share):
First PaymentSecond Payment
DeclaredAmountRecord
Date		Date
Paid		AmountRecord
Date		Date
Paid		Amount
2/6/2025$1.26 2/18/20252/28/2025$0.63 8/15/20258/29/2025$0.63 
On February 6, 2025, the Company’s Board of Directors declared an annual cash dividend in the total amount of $1.26 per share, with $0.63 per share paid on February 28, 2025 to stockholders of record as of February 18, 2025 and $0.63 per share paid on August 29, 2025 to stockholders of record as of August 15, 2025. The declaration of future dividends (ongoing or otherwise), if any, the amount of such dividends, and the establishment of record and payment dates is subject to final determination by the Board of Directors at its discretion after its review of the Company’s financial performance and anticipated capital requirements, taking into account the uncertain macroeconomic conditions on our results of operations and cash flows.
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):
Amount
Beginning balance, September 1, 2025$(161,439)
Foreign currency translation adjustments15,526 
Defined benefit pension plans (1)
46 
Derivative instruments (2)
1,071 
Ending balance, November 30, 2025$(144,796)
Amount
Beginning balance, September 1, 2024$(164,590)
Foreign currency translation adjustments(2,853)
Defined benefit pension plans (1)
71 
Derivative instruments (2)
(234)
Ending balance, November 30, 2024$(167,606)
Amount
Beginning balance, September 1, 2024$(164,590)
Foreign currency translation adjustments3,879 
Defined benefit pension plans (1)
275 
Derivative instruments (2)
(1,274)
Amounts reclassified from accumulated other comprehensive loss271 
Ending balance, August 31, 2025$(161,439)
(1)Amounts reclassified from accumulated other comprehensive loss related to the minimum pension liability are included in warehouse club and other operations in the Company's consolidated statements of income.
(2)Refer to "Note 8 - Derivative Instruments and Hedging Activities."
Retained Earnings Not Available for Distribution
The following table summarizes retained earnings designated as legal reserves of various subsidiaries which cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):
November 30,
2025		August 31,
2025
Retained earnings not available for distribution
$9,712 $9,741 
v3.25.4
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Nov. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Legal Proceedings
From time to time, the Company and its subsidiaries are subject to legal proceedings, claims and litigation arising in the ordinary course of business related to the Company’s operations and property ownership. The Company evaluates such matters on a case-by-case basis and vigorously contests any such legal proceedings or claims which the Company believes are without merit. The Company believes that the final disposition of these matters will not have a material adverse effect on its financial position, results of operations or liquidity. It is possible, however, that the Company's results of operations for a particular quarter or fiscal year could be impacted by changes in circumstances relating to such matters.
The Company establishes an accrual for legal proceedings if and when those matters reach a stage where they present loss contingencies that are both probable and reasonably estimable. In such cases, there may be a possible exposure to loss in excess of any amounts accrued. The Company monitors those matters for developments that would affect the likelihood of a loss and the accrued amount, if any, thereof, and adjusts the amount as appropriate. If the loss contingency at issue is not both probable and reasonably estimable, the Company does not establish an accrual but will continue to monitor the matter for developments that will make the loss contingency both probable and reasonably estimable. If it is at least a reasonable possibility that a material loss will occur, the Company will provide disclosure regarding the contingency.
Income and Non-Income Taxes
For interim reporting, we estimate an annual effective tax rate (AETR) to calculate income tax expense. Our income tax expense, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management’s best estimate of current and future taxes to be paid.
We are required to file federal and state income tax returns in the United States and income tax and various other tax returns in multiple foreign jurisdictions, each with changing tax laws, regulations and administrative positions. This requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. We record the benefits of uncertain tax positions in our financial statements only after determining it is more likely than not the uncertain tax positions would sustain challenge by taxing authorities, including resolution of related appeals or litigation processes, if any. We develop our assessment of an uncertain tax position based on the specific facts and legal arguments of each case and the associated probability of our reporting position being upheld, using internal expertise and the advice of third-party experts. However, our tax returns are subject to routine reviews by the various taxing authorities in the jurisdictions in which we file our tax returns. As part of these reviews, taxing authorities may challenge, and in some cases presently are challenging, the interpretations we have used to calculate our tax liability. In addition, any settlement with the tax authority or the outcome of any appeal or litigation process might result, and in some cases has resulted, in an outcome that is materially different from our estimated liability. When facts and circumstances change, we reassess these probabilities and record any changes in the consolidated financial statements as appropriate. Variations in the actual outcome of these cases could materially impact our consolidated financial statements.
Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. In evaluating our ability to recover our deferred tax assets in the jurisdiction from which they arise, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. In projecting future taxable income, we begin with historical results and incorporate assumptions about the amount of future state, federal, and foreign pretax operating income adjusted for items that do not have tax consequences. The assumptions about future taxable income require the use of significant judgment and are consistent with the plans and estimates we are using to manage the underlying businesses. In evaluating the objective evidence that historical results provide, we consider three years of cumulative operating income.
The Company accrues an amount for its estimate of probable additional income tax liability. In certain cases, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more likely than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than 50% likelihood of being sustained.
In evaluating the exposure associated with various non-income tax filing positions, the Company accrues for probable and estimable exposures for non-income tax-related tax contingencies. As of November 30, 2025 and August 31, 2025, the Company has recorded within other accrued expenses and other current liabilities a total of $1.1 million, for various non-income tax-related tax contingencies.
Minimum tax rules applicable in some of the countries where the Company operates require the Company to pay taxes based on a percentage of sales if the resulting tax were greater than the tax payable based on a percentage of income (Alternative Minimum Tax or "AMT"). This can result in AMT payments substantially in excess of those the Company would expect to pay based on taxable income. As the Company believes that, in one country where it operates, it should ultimately only be liable for an income-based tax, it has accumulated income tax receivables of $10.4 million and $10.5 million and deferred tax assets of $4.3 million and $3.9 million as of November 30, 2025 and August 31, 2025, respectively, in this country.
While the Company believes the recorded liabilities are adequate, there are inherent limitations in projecting the outcome of litigation, in estimating probable additional income tax liability taking into account uncertain tax positions, and in evaluating the probable additional tax associated with various non-income tax filing positions. As such, the Company is unable to make a reasonable estimate of the sensitivity to change of estimates affecting its recorded liabilities. As additional information becomes available, the Company assesses the potential liability and revises its estimates as appropriate.
Other Commitments
The Company is committed to non-cancelable construction service obligations for various warehouse club developments and expansions. As of November 30, 2025 and August 31, 2025, the Company had approximately $8.5 million and $11.5 million, respectively, in contractual obligations for construction services not yet rendered.
As of November 30, 2025, the Company has signed two lease agreements for which the lease term has not yet commenced. The first agreement relates to the relocation of the Company’s warehouse club in Miraflores, Guatemala. As part of the agreement, the landlord has agreed to build a shell building, which is estimated to be delivered in the first half of calendar year 2027. Upon delivery of the building, the Company expects to use approximately $12.1 million in cash to outfit the club. The lease will have an initial term of approximately 20 years, with a 5-year renewal option, and will commence upon delivery of the shell building to the Company. Per the lease agreement, the Company will pay monthly fixed base rent payments, which increase annually based on the Consumer Price Index. The Company will also pay variable rent payments if the yearly warehouse sales for the location are in excess of a certain threshold.
Additionally, the Company signed an agreement to lease a parcel of land on South Camp Road in Kingston, Jamaica for the construction of a warehouse club. The Company expects to use approximately $27.6 million in cash to construct the club. The lease will have an initial term of approximately 30 years, with two 10-year renewal options, and will begin at the earlier of (i) 15 months after the commencement date of the lease or (ii) the date the PriceSmart club opens to the public. Under the terms of the lease, the Company will make monthly fixed base rent payments that increase annually by 2.75%.
A collateralized incremental borrowing rate was used to determine the present value of estimated future minimum lease commitments. The present value of estimated future minimum lease commitments for these two leases are as follows (in thousands):
Twelve Months Ended November 30,
Amount
2026$280 
20271,570 
20282,198 
20292,127 
20302,058 
Thereafter27,601 
Total future lease payments$35,834 
From time to time, the Company has entered into general land purchase and land purchase option agreements. The Company’s land purchase agreements are typically subject to various conditions, including, but not limited to, the ability to obtain necessary governmental permits or approvals. A deposit under an agreement is typically returned to the Company if all permits or approvals are not obtained. Generally, the Company has the right to cancel any of its agreements to purchase land without cause by forfeiture of some or all of the deposits it has made pursuant to the agreement. As of November 30, 2025, the Company had entered into three land purchase agreements that, if completed, would result in the use of approximately $13.9 million in cash.
In the first quarter of fiscal year 2026, the Company dissolved its ownership in the GolfPark Plaza, S.A. joint venture. Refer to “Note 2 - Summary of Significant Accounting Policies” for additional information regarding the dissolution.
The table below summarizes the Company’s interest in a real estate joint venture as of November 30, 2025 (in thousands):
Entity%
Ownership		Initial
Investment		Additional
Investments		Net Loss Inception to
Date
Dissolution of Joint Venture (1)
Company’s
Variable
Interest
in Entity
Commitment
to Future
Additional
Investments
Company's
Maximum
Exposure
to Loss in
Entity
GolfPark Plaza, S.A.50 %$4,616 $2,402 $(129)$(6,889)$— $— $— 
(1)In the first quarter of fiscal year 2026, the Company dissolved its joint venture in GolfPark Plaza, S.A.
v3.25.4
DEBT
 3 Months Ended
Nov. 30, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
Short-term borrowings consist of unsecured lines of credit and short-term overdraft borrowings. The following table summarizes the balances of total facilities, facilities used and facilities available (in thousands):
Facilities Used
Total Amount
of Facilities
Short-term
Borrowings
Letters of
Credit
Facilities
Available
Weighted average
interest rate
November 30, 2025 - Committed$75,000 $— $58 $74,942 — %
November 30, 2025 - Uncommitted96,000 7,701 — 88,299 7.2 
November 30, 2025 - Total$171,000 $7,701 $58 $163,241 7.1 
August 31, 2025 - Committed$75,000 $— $— $75,000 — %
August 31, 2025 - Uncommitted96,000 12,286 — 83,714 9.5 
August 31, 2025 - Total$171,000 $12,286 $— $158,714 9.5 %
As of November 30, 2025 and August 31, 2025, the Company was in compliance with all covenants or amended covenants for each of its short-term facility agreements. These facilities generally expire annually or bi-annually and are normally renewed. One of these facilities is a committed credit agreement with one bank for $75.0 million. In exchange for the bank’s commitment to fund any drawdowns the Company requests, the Company pays an annual commitment fee of 0.25%, payable quarterly, on any unused portion of this facility. Additionally, the Company has uncommitted facilities in most of the countries where it operates, with drawdown requests subject to approval by the individual banks each time a drawdown is requested.
The following table provides the changes in long-term debt for the three months ended November 30, 2025:
(Amounts in thousands)
Current portion of long-term debt
Long-term debt (net of current portion)
Total
Balances as of August 31, 2025$38,675 $147,922 $186,597 
(1)
Repayments of long-term debt
(2,113)(4,031)(6,144)
Reclassifications of long-term debt due in the next 12 months78 (78)— 
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar (2)
(42)(78)(120)
Balances as of November 30, 2025$36,598 $143,735 $180,333 
(3)
(1)The carrying amount of non-cash assets assigned as collateral for these loans was $185.6 million. The carrying amount of cash assets assigned as collateral for these loans was $26.5 million.
(2)These foreign currency translation adjustments are recorded within other comprehensive income.
(3)The carrying amount of non-cash assets assigned as collateral for these loans was $171.1 million. The carrying amount of cash assets assigned as collateral for these loans was $34.1 million.
As of November 30, 2025 and August 31, 2025, the Company had approximately $73.5 million and $78.1 million, respectively, of long-term loans held in the U.S. entity and in several foreign subsidiaries, which require these entities to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. The Company was in compliance with all covenants or amended covenants for both periods.
Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended November 30,Amount
2026$36,598 
202757,109 
202826,119 
202918,019 
20303,162 
Thereafter39,326 
Total$180,333 
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 3 Months Ended
Nov. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
The Company is exposed to interest rate risk relating to its ongoing business operations. To manage interest rate exposure, the Company enters into hedge transactions (interest rate swaps) using derivative financial instruments. The objective of entering into interest rate swaps is to eliminate the variability of cash flows in the Secured Overnight Financing Rate ("SOFR") interest payments associated with variable-rate loans over the life of the loans. As changes in interest rates impact the future cash flow of interest payments, the hedges provide a synthetic offset to interest rate movements.
In addition, the Company is exposed to foreign currency and interest rate cash flow exposure related to non-functional currency long-term debt of one of its wholly owned subsidiaries. To manage this foreign currency and interest rate cash flow exposure, some of the Company’s subsidiaries have entered into cross-currency interest rate swaps that convert their U.S. dollar-denominated floating interest payments to functional currency fixed interest payments during the life of the hedging instrument. As changes in foreign exchange and interest rates impact the future cash flow of interest payments, the hedges are intended to offset changes in cash flows attributable to interest rate and foreign exchange movements.
These derivative instruments (cash flow hedging instruments) are designated and qualify as cash flow hedges, with the entire gain or loss on the derivative reported as a component of other comprehensive income (loss). Amounts are deferred in other comprehensive income (loss) and reclassified into earnings in the same income statement line item that is used to present the earnings effect of the hedged item when the hedged item affects earnings.
The Company is exposed to foreign currency exchange rate fluctuations in the normal course of business, including foreign-currency exchange-rate fluctuations on U.S. dollar denominated liabilities within its international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, through the use of non-deliverable forward foreign-exchange contracts (NDFs) that are intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically address exposure to U.S. dollar merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. Currently, these contracts do not qualify for derivative hedge accounting. The Company seeks to mitigate foreign-currency exchange-rate risk with the use of these contracts and does not intend to engage in speculative transactions. These contracts do not contain any credit-risk-related contingent features.
Cash Flow Hedges
As of November 30, 2025, all of the Company’s interest rate swap and cross-currency interest rate swap derivative financial instruments are designated and qualify as cash flow hedges. The Company formally documents the hedging relationships for its derivative instruments that qualify for hedge accounting.
The following table summarizes agreements for which the Company has recorded cash flow hedge accounting for the three months ended November 30, 2025:
EntityDate
Entered
into		Derivative
Financial
Counter-
party		Derivative
Financial
Instruments		Initial
US$
Notional
Amount		US$
Loan
Held With		Floating Leg
(swap
counter-party)		Fixed Rate
for PSMT
Subsidiary		Settlement
Dates		Effective
Period of swap
Colombia subsidiary25-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$18,700,000PriceSmart, Inc.6.00%10.91 %27th day of each November, February, May and August beginning on February 27, 2025November 27, 2024 - November 27, 2027
Colombia subsidiary15-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%7.61 %17th day of each February, May, August and November beginning on February 18, 2025November 18, 2024 - November 17, 2026
Colombia subsidiary19-Sep-24Citibank, N.A. ("Citi")Cross currency interest rate swap$12,500,000PriceSmart, Inc.4.00%9.15 %24th day of each September, December, March and June beginning on December 24, 2024September 24, 2024 - September 24, 2029
Colombia subsidiary30-Nov-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.5.00%11.27 %30th day of each November, May, August and 28th day of each February (except in case of a leap year, 29th day of each February) beginning on February 29, 2024November 30, 2023 - November 30, 2026
Colombia subsidiary12-Apr-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.4.00%11.40 %11th day of each July, October, January and April, beginning on July 11, 2023April 12, 2023 - April 11, 2028
Colombia subsidiary3-May-22Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%9.04 %3rd day of each May, August, November and February, beginning on August 3, 2022May 3, 2022 - May 3, 2027
SD Property Managers, LLC16-Jun-25Fifth Third Bank, National AssociationInterest rate swap$12,500,000Fifth Third Bank, National AssociationVariable rate 1-month SOFR4.02 %1st day of each month beginning on July 1, 2025Jun 16, 2025 - June 16, 2035
Panama subsidiary11-Jul-24Bank of Nova Scotia ("Scotiabank")Interest rate swap$16,500,000Bank of Nova Scotia
3-month SOFR with a 2.95% floor
4.43 %1st day of each March, June, September and December beginning June 3, 2024February 29, 2024 - March 1, 2029
PriceSmart, Inc.7-Nov-16U.S. Bank, N.A. ("U.S. Bank") successor to Union Bank, N.A.Interest rate swap$35,700,000U.S. Bank
Variable rate 3-month SOFR plus 1.70%
3.65 %1st day of each month beginning on April 1, 2017March 1, 2017 - March 1, 2027
For the three months ended November 30, 2025 and November 30, 2024, the Company included the gain or loss on the hedged items (that is, variable-rate borrowings) in the same line item—interest expense—as the offsetting gain or loss on the related interest rate swaps as follows (in thousands):
Income Statement Classification
Interest expense on borrowings (1)
Cost of swaps (2)
Total
Interest expense for the three months ended November 30, 2025$854 $1,121 $1,975 
Interest expense for the three months ended November 30, 2024$1,225 $397 $1,622 
(1)This amount is representative of the interest expense recognized on the underlying hedged transactions.
(2)This amount is representative of the interest expense recognized on the interest rate swaps and cross-currency swaps designated as cash flow hedging instruments.
The total notional balance of the Company’s pay-fixed/receive-variable interest rate swaps and cross-currency interest rate swaps was as follows (in thousands):
 Notional Amount as of
Floating Rate Payer (Swap Counterparty)
November 30,
2025		August 31,
2025
U.S. Bank$27,200 $27,519 
Fifth Third Bank, National Association12,500 12,500 
Citibank N.A.71,200 71,200 
Scotiabank16,171 16,337 
Total$127,071 $127,556 
Derivatives listed on the table below were designated as cash flow hedging instruments. The table summarizes the effect of the fair value of interest rate swap and cross-currency interest rate swap derivative instruments that qualify for derivative hedge accounting and its associated tax effect on accumulated other comprehensive income/(loss) (in thousands):
November 30, 2025August 31, 2025
Derivatives designated as cash flow hedging instrumentsBalance Sheet
Classification		Fair
Value		Net Tax
Effect		Net
OCI		Fair
Value		Net Tax
Effect		Net
OCI
Cross-currency interest rate swapsOther current liabilities$(2,556)$895 $(1,661)$— $— $— 
Cross-currency interest rate swapsOther long-term liabilities(6,356)2,225 (4,131)(5,381)1,884 (3,497)
Interest rate swapsOther non-current assets552 (123)429 701 (157)544 
Interest rate swapsOther long-term liabilities(913)230 (683)(815)207 (608)
Net fair value of derivatives designated as hedging instruments$(9,273)$3,227 $(6,046)$(5,495)$1,934 $(3,561)
Fair Value Instruments
From time to time the Company enters into non-deliverable forward foreign-exchange contracts. These contracts are treated for accounting purposes as fair value contracts and do not qualify for derivative hedge accounting. The use of non-deliverable forward foreign-exchange contracts is intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically hedge exposure to U.S. dollar merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar.
The following table summarizes the non-deliverable forward foreign exchange contracts that are open as of November 30, 2025:
Financial Derivative
(Counterparty)		SubsidiaryDates
Entered into (Range)		Derivative Financial
Instrument		Total Notional
Amounts
(in thousands)		Settlement
 Dates (Range)
Citibank, N.A. ("Citi")Colombia20-May-2025 - 21-Nov-2025Forward foreign exchange contracts (USD)$18,000 19-Dec-2025 - 22-May-2026
Forward derivative gains and (losses) on non-deliverable forward foreign-exchange contracts are included in Other income (expense), net, in the consolidated statements of income in the period of change, but the amounts were immaterial for the three month periods ended November 30, 2025 and November 30, 2024.
v3.25.4
SEGMENTS
 3 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 56 warehouse clubs located in 12 countries and one U.S. territory that are located in Central America, the Caribbean and Colombia. In addition, the Company operates distribution centers and corporate offices in the United States. The Company has aggregated its warehouse clubs, distribution centers and corporate offices into reportable segments. The Company’s reportable segments are based on management’s organization of these locations into operating segments by general geographic location, which are used by management in setting up management lines of responsibility, providing support services, and making operational decisions and assessments of financial performance. Segment amounts are presented after converting to U.S. dollars and consolidating eliminations. Certain revenues, operating costs and inter-company charges included in the United States segment are not allocated to the segments within this presentation, as it is impractical to do so, and they appear as reconciling items to reflect the amount eliminated on consolidation of intersegment transactions. From time to time, the Company revises the measurement of each segment's operating income and net income, including certain corporate overhead allocations, and other measures as determined by the information regularly reviewed by management. When the Company does so, the previous period amounts and balances are reclassified to conform to the current period's presentation.
The group composed of the Company’s (i) Chief Executive Officer, (ii) Chief Operating Officer, and (iii) Chief Financial Officer functions as the Company’s Chief Operating Decision Maker ("CODM"). The Company’s CODM manages business operations and evaluates the performance of each segment based on the operating income (loss) of the segment and net income. The CODM considers actual performance relative to expectations, and growth potential to determine the appropriate allocation of resources to each segment.
The following tables summarize by segment certain revenues, significant expense categories, operating costs and balance sheet items regularly provided to the CODM, (in thousands):
United
States
Operations		Central
American
Operations
Caribbean
Operations (1)
Colombia
Operations
Reconciling
Items (2)
Total
Three Months Ended November 30, 2025
Revenue from external customers$1,600 $833,487 $365,308 $182,334 $— $1,382,729 
Intersegment revenues546,205 8,041 2,307 2,701 (559,254)— 
Total revenues
547,805 841,528 367,615 185,035 (559,254)1,382,729 
Less (3):
Cost of goods sold162 686,342 299,892 151,948 — 1,138,344 
Intersegment cost of goods sold524,518 7,833 1,698 2,647 (536,696)— 
Warehouse club and other operations— 75,353 35,824 20,638 — 131,815 
General and administrative (4)
49,341 73 163 66 — 49,643 
Intersegment reimbursement of expenses(24,351)16,857 7,494 — — — 
Operating income (loss)
(1,865)55,070 22,544 9,736 (22,558)62,927 
Interest income from external sources347 1,523 1,019 60 — 2,949 
Interest income from intersegment sources1,303 1,709 2 — (3,014)— 
Interest expense from external sources(443)(1,055)(1,520)(1,402)— (4,420)
Interest expense from intersegment sources(1,114)(710)(361)(821)3,006 — 
Provision for income taxes(6,660)(5,768)(1,617)(1,484)— (15,529)
Other segment items (5)
(77)(2,476)(3,641)433 — (5,761)
Net income (loss)
$(8,509)$48,293 $16,426 $6,522 $(22,566)$40,166 
Depreciation, property and equipment(1,960)(12,177)(6,123)(3,717)— (23,977)
Long-lived assets (other than deferred tax assets)100,036 655,472 284,513 216,010 — 1,256,031 
Goodwill8,981 24,255 10,004 — — 43,240 
Total assets264,141 1,216,711 584,714 328,332 — 2,393,898 
Capital expenditures, net3,344 14,966 20,599 2,487 — 41,396 
Three Months Ended November 30, 2024
Revenue from external customers$9,618 $760,296 $345,382 $142,648 $— $1,257,944 
Intersegment revenues515,594 9,333 1,825 1,026 (527,778)— 
Total revenues
525,212 769,629 347,207 143,674 (527,778)1,257,944 
Less (3):
Cost of goods sold9,014 626,283 282,835 120,758 — 1,038,890 
Intersegment cost of goods sold495,426 9,070 1,829 988 (507,313)— 
Warehouse club and other operations— 68,058 33,590 16,207 — 117,855 
General and administrative (4)
42,525 189 134 91 — 42,939 
Intersegment reimbursement of expenses(20,081)13,971 6,110 — — — 
Operating income (loss)(1,672)52,058 22,709 5,630 (20,465)58,260 
Interest income from external sources110 1,574 493 43 — 2,220 
Interest income from intersegment sources1,708 1,482 101 — (3,291)— 
Interest expense from external sources(270)(589)(491)(1,345)— (2,695)
Interest expense from intersegment sources(1,111)(964)(493)(724)3,292 — 
Provision for income taxes(4,741)(6,847)(2,109)201 — (13,496)
Other segment items (5)
195 (2,931)(2,305)(1,820)— (6,861)
Net income (loss)$(5,781)$43,783 $17,905 $1,985 $(20,464)$37,428 
Depreciation, property and equipment(1,768)(10,944)(5,005)(3,145)— (20,862)
Long-lived assets (other than deferred tax assets)71,614 627,942 230,920 186,666 — 1,117,142 
Goodwill8,981 24,204 10,030 — — 43,215 
Investment in unconsolidated affiliates— 6,877 — — — 6,877 
Total assets210,842 1,103,690 496,459 276,691 — 2,087,682 
Capital expenditures, net572 15,445 9,890 2,465 — 28,372 
As of August 31, 2025
Long-lived assets (other than deferred tax assets)$90,663 $659,756 $262,543 $197,268 $— $1,210,230 
Goodwill
8,981 24,254 10,003 — — 43,238 
Investment in unconsolidated affiliates
— 6,889 — — — 6,889 
Total assets300,177 1,147,392 534,654 286,934 — 2,269,157 
(1)Management considers its club in the U.S. Virgin Islands to be part of its Caribbean operations.
(2)The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.
(3)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(4)General and administrative expenses include pre-opening expenses and loss on disposal of assets.
(5)Other segment items include other expense, net and loss of unconsolidated affiliates.
v3.25.4
SUBSEQUENT EVENTS
 3 Months Ended
Nov. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
The Company has evaluated all events subsequent to the balance sheet date as of November 30, 2025 through the date of issuance of these consolidated financial statements and has determined that there are no subsequent events that require disclosure.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Nov. 30, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Francisco Velasco [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On November 14, 2025, Francisco Velasco, our Executive Vice President - Chief Legal Officer, Chief Risk & Compliance Officer, and Registered In-House Counsel, adopted a Rule 10b5-1 Trading Plan. Mr. Velasco’s Rule 10b5-1 Trading Plan provides for the sale of up to 1,352 shares of the Company's common stock during the period beginning on February 13, 2026 and ending December 31, 2026.
Name Francisco Velasco
Title Executive Vice President - Chief Legal Officer, Chief Risk & Compliance Officer, and Registered In-House Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 14, 2025
Expiration Date December 31, 2026
Arrangement Duration 321 days
Aggregate Available 1,352
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Nov. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation – The interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).
These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2025 (the “2025 Form 10-K”). The interim consolidated financial statements include the accounts of PriceSmart, Inc., a Delaware corporation, and its subsidiaries. Intercompany transactions between the Company and its subsidiaries have been eliminated in consolidation.
Principles of Consolidation
Principles of Consolidation – The consolidated financial statements of the Company included herein include the assets, liabilities and results of operations of the Company’s wholly owned subsidiaries and subsidiaries in which it has a controlling interest. The consolidated financial statements also include the Company's investment in, and the Company's share of the income (loss) of, joint ventures recorded under the equity method. All significant inter-company accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the SEC and reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to fairly present the financial position, results of operations and cash flows for the periods presented. The results for interim periods are not necessarily indicative of the results for the year.
The Company determines whether any of the joint ventures in which it has made investments are a Variable Interest Entity (“VIE”) at the start of each new venture and if a reconsideration event has occurred. The Company also considers whether it must consolidate a VIE and/or disclose information about its involvement in a VIE. A reporting entity must consolidate a VIE if that reporting entity has a variable interest (or combination of variable interests) and is determined to be the primary beneficiary. If the Company determines that it is not the primary beneficiary of the VIE, then the Company records its investment in, and the Company's share of the income (loss) of, joint ventures recorded under the equity method.
In the first quarter of fiscal year 2026, the Company dissolved its ownership in the GolfPark Plaza, S.A. joint venture. As a result of this dissolution, the Company recognized a gain of approximately $600,000 in Other income (expense) on the consolidated statements of income for the quarter ended November 30, 2025. The Company used a market-based valuation model to determine the fair value of the two plots of land received at $6.4 million. The Company also received cash and other assets of approximately $1.1 million.
Use of Estimates
Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ from those estimates and assumptions.
Cash and Cash Equivalents Cash and Cash Equivalents – The Company considers cash and cash equivalents as all cash on deposit, highly liquid investments with a maturity of three months or less at the date of purchase and proceeds due from credit and debit card transactions in the process of settlement. In addition, the Company invests some of our cash in money market funds which are considered equity securities and are held at fair value in Cash and cash equivalents on the consolidated balance sheets.
Restricted Cash
Restricted Cash – The following table summarizes the restricted cash reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Short-term restricted cash$9,212 $11,061 
Long-term restricted cash33,926 33,206 
Total restricted cash (1)
$43,138 $44,267 
(1)Restricted cash consists of cash deposits held within banking institutions in compliance with federal regulatory requirements in Costa Rica and Panama. In addition, the Company is required to maintain certificates of deposit and/or security deposits of Trinidad dollars, as measured in U.S. dollars, of approximately $23.0 million, and certificates of deposit and/or security deposits in U.S. dollars of approximately $12.3 million with a few of its lenders as compensating balances for several U.S. dollar and euro denominated loans payable over several years. The increase in restricted cash compared to the prior year is primarily due to security deposits related to our financing transactions we entered into in the fourth quarter of fiscal year 2025 to provide additional U.S. dollar liquidity to our Trinidad subsidiary. The certificates of deposit will be reduced annually commensurate with the loan balances.
Short-Term Investments Short-Term Investments – The Company considers certificates of deposit and similar time-based deposits with financial institutions with original maturities over three months and up to one year to be short-term investments.
Long-Term Investments
Long-Term Investments – The Company considers certificates of deposit and similar time-based deposits with financial institutions with original maturities over one year to be long-term investments.
Goodwill GoodwillThe Company reviews reported goodwill at the reporting unit level for impairment. The Company tests goodwill for impairment at least annually or when events or changes in circumstances indicate that it is more likely than not that the asset is impaired.
Receivables
Receivables – Receivables consist primarily of credit card receivables and receivables from vendors and are stated net of allowances for credit losses. The determination of the allowance for credit losses is based on the Company’s assessment of collectability along with the consideration of current and expected market conditions that could impact collectability.
Tax Receivables
Tax Receivables – The Company pays Value Added Tax (“VAT”) or similar taxes, income taxes, and other taxes within the normal course of business in most of the countries in which it operates related to the procurement of merchandise and/or services the Company acquires and/or on sales and taxable income. VAT is a form of indirect tax applied to the value added at each stage of production (primary, manufacturing, wholesale, and retail). This tax is similar to, but operates somewhat differently than, sales tax paid in the United States. The Company generally collects VAT from its Members upon sale of goods and services and pays VAT to its vendors upon purchase of goods and services. Periodically, the Company submits VAT reports to governmental agencies and reconciles the VAT paid and VAT received. The net overpaid VAT may be refunded or applied to subsequent returns, and the net underpaid VAT must be remitted to the government. With respect to income taxes paid, if the estimated income taxes paid or withheld exceed the actual income tax due this creates an income tax receivable. In most countries where the Company operates, the governments have implemented additional collection procedures, such as requiring credit card processors to remit a portion of sales processed via credit and debit cards directly to the government as advance payments of VAT and/or income tax. This collection mechanism generally leaves the Company with net VAT and/or income tax receivables, forcing the Company to process significant refund claims on a recurring basis. These refund or offset processes can take anywhere from several months to several years to complete. Additionally, we are occasionally required to make payments under protest for tax assessments that we are appealing, notwithstanding that we believe it is more likely than not we will ultimately prevail.
Minimum tax rules, applicable in some of the countries where the Company operates, require the Company to pay taxes based on a percentage of sales if the resulting tax were greater than the tax payable based on a percentage of income (Alternative Minimum Tax or "AMT"). This can result in AMT payments substantially in excess of taxes the Company would expect to pay based on taxable income.While the rules related to refunds of income tax receivables in this country are unclear and complex, the Company has not placed any type of allowance on the recoverability of these tax receivables, deferred tax assets or amounts that may be deemed underpaid, because the Company believes that it is more likely than not that it will ultimately succeed in its refund requests and appeals of these rules.
The Company's various outstanding VAT receivables and/or income tax receivables are based on cases or appeals with their own set of facts and circumstances. The Company consults and evaluates with legal and tax advisors regularly to understand the strength of its legal arguments and probability of successful outcomes in addition to its own experience handling complex tax issues. Based on those evaluations, the Company has not placed any type of allowance on the recoverability of the remaining tax receivables or deferred tax assets because the Company believes that it is more likely than not that it will ultimately succeed in its refund requests.
The Company’s policy for classification and presentation of VAT receivables, income tax receivables and other tax receivables is as follows:
•Short-term VAT and Income tax receivables, recorded as Prepaid expenses and other current assets: This classification is used for any countries where the Company’s subsidiary has generally demonstrated the ability to recover the VAT or income tax receivable within one year. The Company also classifies as short-term any approved refunds or credit notes to the extent that the Company expects to receive the refund or use the credit notes within one year.
•Long-term VAT and Income tax receivables, recorded as Other non-current assets: This classification is used for amounts not approved for refund or credit in countries where the Company’s subsidiary has not demonstrated the ability to obtain refunds within one year and/or for amounts which are subject to outstanding disputes. An allowance is provided against VAT and income tax receivable balances in dispute when the Company does not expect to eventually prevail in its recovery. The Company does not currently have any allowances provided against VAT and income tax receivables.
Lease Accounting
Lease Accounting – The Company’s leases are operating leases for warehouse clubs and non-warehouse club facilities such as corporate headquarters, regional offices, and regional distribution centers. The Company determines if an arrangement is a lease and classifies it as either a finance or operating lease at lease inception. Operating leases are included in Operating lease right-of-use assets, net; Operating lease liabilities, current portion; and Long-term operating lease liabilities on the consolidated balance sheets. The Company does not have finance leases.
Operating lease liabilities are recognized at the commencement date based on the present value of the future minimum lease payments over the lease term. The Company’s leases generally do not have a readily determinable implicit interest rate; therefore, the Company uses a collateralized incremental borrowing rate at the commencement date in determining the present value of future payments. The incremental borrowing rate is based on a yield curve derived from publicly traded bond offerings for companies with credit characteristics that approximate the Company's market risk profile.
In addition, we adjust the incremental borrowing rate for jurisdictional risk derived from quoted interest rates from financial institutions to reflect the cost of borrowing in the Company’s local markets. The Company’s lease terms may include options to purchase, extend or terminate the lease, which are recognized when it is reasonably certain that the Company will exercise that option. The Company does not combine lease and non-lease components.
The Company measures Right-of-use (“ROU”) assets based on the corresponding lease liabilities, adjusted for any initial direct costs and prepaid lease payments made to the lessor before or at the commencement date (net of lease incentives). The lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the calculation of the ROU asset and the related lease liability and are recognized as incurred. The Company’s variable lease payments generally relate to amounts the Company pays for additional contingent rent based on a contractually stipulated percentage of sales.
Merchandise Inventories
Merchandise Inventories – Merchandise inventories, which include merchandise for resale, are valued at the lower of cost (average cost) or net realizable value. The Company provides for estimated inventory losses and obsolescence based on a percentage of sales. The provision is adjusted every reporting period to reflect the trend of actual physical inventory and cycle count results. In addition, the Company may be required to take markdowns below the carrying cost of certain inventory to expedite the sale of such merchandise.
Stock Based Compensation
Stock Based Compensation – The Company utilizes three types of equity awards: restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). Compensation cost related to RSAs, RSUs and PSUs is based on the fair market value at the time of the grant. The Company recognizes the compensation cost related to RSAs and RSUs over the requisite service period as determined by the grant, amortized ratably or on a straight-line basis over the life of the grant. The Company also recognizes compensation cost for PSUs over the performance period of each tranche, adjusting this cost based on the Company's estimate of the probability that performance metrics will be achieved.
The Company accounts for actual forfeitures as they occur. The Company records the tax savings resulting from tax deductions in excess of expense for stock-based compensation and the tax deficiency resulting from stock-based compensation in excess of the related tax deduction as income tax expense or benefit. In addition, the Company reflects the tax savings (deficiency) resulting from the taxation of stock-based compensation as an operating cash flow in its consolidated statement of cash flows.
RSAs are outstanding shares of common stock and have the same cash dividend and voting rights as other shares of common stock. Shares of common stock subject to RSUs are not issued nor outstanding until vested, and RSUs do not have the same dividend and voting rights as common stock. However, all outstanding RSUs have accompanying dividend equivalents, requiring payment to the employees and directors with unvested RSUs of amounts equal to the dividend they would have received had the shares of common stock underlying the RSUs been actually issued and outstanding. Payments of dividend equivalents to employees are recorded as compensation expense.
PSUs, similar to RSUs, are awarded with dividend equivalents, subject to achievement of applicable performance criteria.
Treasury Stock Treasury Stock – Shares of common stock repurchased by the Company are recorded at cost, including transaction costs and excise taxes, as treasury stock and result in the reduction of stockholders’ equity in the Company’s consolidated balance sheets. The Company may reissue these treasury shares as part of its stock-based compensation programs or in other transactions. When treasury shares are reissued, the Company uses the first in/first out (“FIFO”) cost method for determining cost of the reissued shares. If the issuance price is higher than the cost, the excess of the issuance price over the cost is credited to additional paid-in capital (“APIC”). If the issuance price is lower than the cost, the difference is first charged against any credit balance in APIC from treasury stock, and the balance is charged to retained earnings.
Fair Value Measurements
Fair Value Measurements – The Company measures the fair value for all financial and non-financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring or nonrecurring basis. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor.
ASC 820, Fair Value Measurements and Disclosures, sets forth a fair value hierarchy that categorizes inputs to valuation techniques used to measure and revalue fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company was not required to revalue any assets or liabilities utilizing Level 1 or Level 3 inputs at the balance sheet dates. The Company's Level 2 assets and liabilities revalued at the balance sheet dates, on a recurring basis, consisted of cash flow hedges (interest rate swaps and cross-currency interest rate swaps) and forward foreign exchange contracts. In addition, the Company utilizes Level 2 inputs in determining the fair value of long-term debt.
Non-financial assets and liabilities are revalued and recognized at fair value subsequent to initial recognition when there is evidence of impairment. For the periods reported, no impairment of such non-financial assets was recorded.
The Company’s current and long-term financial assets and liabilities have fair values that approximate their carrying values. The Company’s long-term financial liabilities consist of long-term debt, which is recorded on the balance sheet at issuance price and adjusted for any applicable unamortized discounts or premiums and debt issuance costs. There have been no significant changes in the fair market value of the Company’s current and long-term financial assets and liabilities, and there have been no material changes to the valuation techniques utilized in the fair value measurement of assets and liabilities disclosed in the Company’s 2025 Annual Report on Form 10-K.
Derivatives Instruments and Hedging Activities
Derivative Instruments and Hedging Activities – The Company uses derivative financial instruments for hedging and non-trading purposes to manage its exposure to changes in interest and currency exchange rates. In using derivative financial instruments for the purpose of hedging the Company’s exposure to interest and currency exchange rate risks, the contractual terms of a hedged instrument closely mirror those of the hedged item and are intended to provide a high degree of risk reduction and correlation. Contracts that are effective at meeting the risk reduction and correlation criteria (effective hedge) are recorded using hedge accounting. If a derivative financial instrument is an effective hedge, changes in the fair value of the instrument will be reported in accumulated other comprehensive loss until the hedged item completes its contractual term. Instruments that do not meet the criteria for hedge accounting, or contracts for which the Company has not elected hedge accounting, are valued at fair value with unrealized gains or losses reported in earnings during the period of the change.
The Company did not change valuation techniques utilized in the fair value measurement of assets and liabilities presented on the Company’s consolidated balance sheets from previous practice during the reporting period. The Company seeks to manage counterparty risk associated with these contracts by limiting transactions to counterparties with which the Company has an established banking relationship. There can be no assurance, however, that this practice effectively mitigates counterparty risk.
Cash Flow Instruments. The Company is a party to receive floating interest rate and pay fixed-rate interest rate swaps to hedge the interest rate risk of certain U.S. dollar-denominated debt within its international subsidiaries. The swaps are designated as cash flow hedges of interest expense risk. These instruments are considered effective hedges and are recorded using hedge accounting. The Company is also a party to receive variable or fixed interest rate and pay fixed interest rate cross-currency interest rate swaps to hedge the interest rate and currency exposure associated with the expected payments of principal and interest of U.S. dollar-denominated debt within its international subsidiaries whose functional currency is other than the U.S. dollar. The swaps are designated as cash flow hedges of the currency risk and interest rate risk related to payments on the U.S. dollar-denominated debt. These instruments are also considered to be effective hedges and are recorded using hedge accounting. Under cash flow hedging, the entire gain or loss of the derivative, calculated as the net present value of the future cash flows, is reported on the consolidated balance sheets in accumulated other comprehensive loss. Amounts recorded in accumulated other comprehensive loss are released to earnings in the same period that the hedged transaction impacts consolidated earnings. Refer to “Note 8 - Derivative Instruments and Hedging Activities” for information on the fair value of interest rate swaps and cross-currency interest rate swaps as of November 30, 2025 and August 31, 2025.
Fair Value Instruments. The Company is exposed to foreign currency exchange rate fluctuations in the normal course of business. This includes exposure to foreign currency exchange rate fluctuations on U.S. dollar-denominated liabilities within the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, through the use of non-deliverable forward foreign-exchange contracts that are intended to offset changes in cash flows attributable to currency exchange movements. The contracts are intended primarily to economically address exposure to U.S. dollar merchandise inventory expenditures made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. Currently, these contracts are treated for accounting purposes as fair value instruments and do not qualify for derivative hedge accounting, and as such, the Company does not apply derivative hedge accounting to record these transactions. As a result, these contracts are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. The Company seeks to mitigate foreign currency exchange-rate risk with the use of these contracts and does not intend to engage in speculative transactions. These contracts do not contain any credit-risk-related contingent features and are limited to less than one year in duration.
Revenue Recognition
Revenue Recognition – The accounting policies and other disclosures such as the disclosure of disaggregated revenues are described in “Note 3 – Revenue Recognition.”
Cost of Goods Sold
Cost of Goods Sold – The Company includes the cost of merchandise and food service and bakery raw materials in cost of goods sold - net merchandise sales. The Company also includes in cost of goods sold - net merchandise sales the external and internal distribution and handling costs for supplying merchandise, raw materials and supplies to the warehouse clubs, and, when applicable, costs of shipping to Members. External costs include inbound freight, duties, drayage, fees, insurance, and non-recoverable value-added tax related to inventory shrink, spoilage and damage. Internal costs include payroll and related costs, utilities, consumable supplies, repair and maintenance, rent expense and building and equipment depreciation at the Company's distribution facilities and payroll and other direct costs for in-club demonstrations.
For export sales, the Company includes the cost of merchandise and external and internal distribution and handling costs for supplying merchandise in cost of goods sold - exports.
Vendor consideration consists primarily of volume rebates, time-limited product promotions, cooperative marketing efforts, digital advertising, slotting fees, demonstration reimbursements and prompt payment discounts. Volume rebates and time-limited promotions are recognized on a systematic and rational allocation of the cash consideration as the Company progresses toward earning the rebate, provided the amounts to be earned are probable and reasonably estimable. Cooperative marketing efforts and digital advertising are related to consideration received by the Company from vendors for non-distinct online advertising services on the Company’s website and social media platforms. Slotting fees are related to consideration received by the Company from vendors for preferential "end cap" placement of the vendor's products within the warehouse club. Demonstration reimbursements are related to consideration received by the Company from vendors for the in-club promotion of the vendors' products. The Company records the reduction in cost of goods sold on a transactional basis for these programs. On a quarterly basis, the Company calculates the amount of rebates recorded in cost of goods sold that relates to inventory on hand and this amount is reclassified as a reduction to inventory, if significant. Prompt payment discounts are taken in substantially all cases and therefore are applied directly to reduce the acquisition cost of the related inventory, with the resulting effect recorded to cost of goods sold when the inventory is sold.
Selling, General and Administrative
Selling, General and Administrative – Selling, general and administrative costs consist primarily of expenses associated with operating warehouse clubs and non-income based taxes such as alternative minimum taxes based on revenue or sales. These costs include payroll and related costs, utilities, consumable supplies, repair and maintenance, rent expense, building and equipment depreciation, bank fees, credit card processing fees, and amortization of intangibles. Also included in selling, general and administrative expenses are the payroll and related costs for the Company’s U.S. and regional management and purchasing centers.
Pre-Opening Costs
Pre-Opening Costs – The Company expenses pre-opening costs (the costs of start-up activities, including organization costs and rent) for new warehouse clubs as incurred.
Asset Impairment and Closure Costs
Asset Impairment and Closure Costs – The Company periodically evaluates its long-lived assets for indicators of impairment. Management's judgments are based on market and operational conditions at the time of the evaluation and can include management's best estimate of future business activity. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair value. Future business conditions and/or activity could differ materially from the projections made by management, causing the need for additional impairment charges.
Loss Contingencies and Litigation
Loss Contingencies and Litigation – The Company records and reserves for loss contingencies if (a) information available prior to issuance of the consolidated financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the consolidated financial statements and (b) the amount of loss can be reasonably estimated. If one or both criteria for accrual are not met, but there is at least a reasonable possibility that a material loss will occur, the Company does not record and reserve for a loss contingency but describes the contingency within a note and provides detail, when possible, of the estimated potential loss or range of loss. If an estimate cannot be made, a statement to that effect is made.
Foreign Currency Translation
Foreign Currency Translation – The assets and liabilities of the Company’s foreign operations are translated to U.S. dollars when the functional currency in the Company’s international subsidiaries is the local currency and not U.S. dollars. Assets and liabilities of these foreign subsidiaries are translated to U.S. dollars at the exchange rate on the balance sheet date, and revenue, costs and expenses are translated at average rates of exchange in effect during the period. The corresponding translation gains and losses are recorded as a component of accumulated other comprehensive income or loss. These adjustments will affect net income upon the sale or liquidation of the underlying investment.
Recent Accounting Pronouncements - Not Yet Adopted
Recent Accounting Pronouncements - Not Yet Adopted
FASB ASC 740 ASU 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. ASU No. 2023-09 focuses on income tax disclosures around effective tax rates and cash income taxes paid. The ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company expects to adopt ASU No. 2023-09 for our annual reporting for fiscal year 2026. The Company is evaluating the impact on the Company's consolidated financial statements.
FASB ASC 220 ASU 2024-03—Income Statement (Topic 220): Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU No. 2024-04, Disaggregation of Income Statement Expenses. ASU No. 2024-03 requires disaggregated disclosure of income statement expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. Early adoption is permitted. The Company expects to adopt ASU No. 2024-03 for our annual reporting for fiscal year 2028. The Company has not yet completed its assessment of the impact of ASU No. 2024-03 on the Company's consolidated financial statements.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Nov. 30, 2025
Accounting Policies [Abstract]  
Schedule of Restricted Cash The following table summarizes the restricted cash reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Short-term restricted cash$9,212 $11,061 
Long-term restricted cash33,926 33,206 
Total restricted cash (1)
$43,138 $44,267 
(1)Restricted cash consists of cash deposits held within banking institutions in compliance with federal regulatory requirements in Costa Rica and Panama. In addition, the Company is required to maintain certificates of deposit and/or security deposits of Trinidad dollars, as measured in U.S. dollars, of approximately $23.0 million, and certificates of deposit and/or security deposits in U.S. dollars of approximately $12.3 million with a few of its lenders as compensating balances for several U.S. dollar and euro denominated loans payable over several years. The increase in restricted cash compared to the prior year is primarily due to security deposits related to our financing transactions we entered into in the fourth quarter of fiscal year 2025 to provide additional U.S. dollar liquidity to our Trinidad subsidiary. The certificates of deposit will be reduced annually commensurate with the loan balances.
Schedule of Value Added Tax Receivables
The following table summarizes the VAT receivables reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Prepaid expenses and other current assets$8,646 $7,387
Other non-current assets26,237 28,431
Total amount of VAT receivables reported$34,883 $35,818
Schedule of Income Tax Receivables
The following table summarizes the income tax receivables reported by the Company (in thousands):
November 30,
2025		August 31,
2025
Prepaid expenses and other current assets$29,078 $25,169
Other non-current assets21,268 23,181
Total amount of income tax receivables reported$50,346 $48,350
Schedule of Net Effect of Foreign Currency Translation
The following table discloses the net effect of translation into the reporting currency on other comprehensive income (loss) for these local currency denominated accounts for the three months ended November 30, 2025 and November 30, 2024 (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Effect on other comprehensive income (loss) due to foreign currency restatement$15,526 $(2,853)
Schedule of Foreign Currency Gains (Losses) These foreign exchange transaction gains (losses), including transactions recorded involving these monetary assets and liabilities, are recorded as Other income (expense) in the consolidated statements of income (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Currency loss$(6,240)$(6,718)
v3.25.4
REVENUE RECOGNITION (Tables)
 3 Months Ended
Nov. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Performance Liabilities The following table provides these contract balances from transactions with customers as of the dates listed (in thousands):
Contract Liabilities
November 30,
2025		August 31,
2025
Deferred membership income$43,443 $41,739 
Other contract performance liabilities$31,165 $20,327 
Schedule of Disaggregated Revenues
In the following table, net merchandise sales are disaggregated by merchandise category (in thousands):
Three Months Ended
November 30,
2025		November 30,
2024
Foods & Sundries$637,957 $579,999 
Fresh Foods415,575 366,284 
Hardlines
144,925 144,195 
Softlines
82,359 67,888 
Food Service and Bakery
59,471 54,030 
Health Services
13,509 11,463 
Net Merchandise Sales$1,353,796 $1,223,859 
v3.25.4
EARNINGS PER SHARE (Tables)
 3 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
Schedule of the Computation of Net Income Per Share
The following table sets forth the computation of net income per share for the three months ended November 30, 2025 and November 30, 2024 (in thousands, except per share amounts):
Three Months Ended
November 30,
2025		November 30,
2024
Net income
$40,166$37,428
Less: Allocation of income to unvested stockholders(1,227)(1,043)
Net income available for distribution$38,939$36,385
Basic weighted average shares outstanding30,17330,019
Add dilutive effect of performance stock units (two-class method)71
Diluted average shares outstanding30,18030,020
Basic net income per share$1.29$1.21
Diluted net income per share$1.29$1.21
v3.25.4
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Nov. 30, 2025
Equity [Abstract]  
Schedule of Dividends
No dividends were declared by the Company’s Board of Directors during the first three months of fiscal year 2026. The following table summarizes the dividends declared and paid during fiscal year 2025 (amounts are per share):
First PaymentSecond Payment
DeclaredAmountRecord
Date		Date
Paid		AmountRecord
Date		Date
Paid		Amount
2/6/2025$1.26 2/18/20252/28/2025$0.63 8/15/20258/29/2025$0.63 
Schedule of Components of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):
Amount
Beginning balance, September 1, 2025$(161,439)
Foreign currency translation adjustments15,526 
Defined benefit pension plans (1)
46 
Derivative instruments (2)
1,071 
Ending balance, November 30, 2025$(144,796)
Amount
Beginning balance, September 1, 2024$(164,590)
Foreign currency translation adjustments(2,853)
Defined benefit pension plans (1)
71 
Derivative instruments (2)
(234)
Ending balance, November 30, 2024$(167,606)
Amount
Beginning balance, September 1, 2024$(164,590)
Foreign currency translation adjustments3,879 
Defined benefit pension plans (1)
275 
Derivative instruments (2)
(1,274)
Amounts reclassified from accumulated other comprehensive loss271 
Ending balance, August 31, 2025$(161,439)
(1)Amounts reclassified from accumulated other comprehensive loss related to the minimum pension liability are included in warehouse club and other operations in the Company's consolidated statements of income.
(2)Refer to "Note 8 - Derivative Instruments and Hedging Activities."
Schedule of Retained Earnings Not Available for Distribution
The following table summarizes retained earnings designated as legal reserves of various subsidiaries which cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):
November 30,
2025		August 31,
2025
Retained earnings not available for distribution
$9,712 $9,741 
v3.25.4
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Nov. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Lease Commitments The present value of estimated future minimum lease commitments for these two leases are as follows (in thousands):
Twelve Months Ended November 30,
Amount
2026$280 
20271,570 
20282,198 
20292,127 
20302,058 
Thereafter27,601 
Total future lease payments$35,834 
Schedule of Variable Interest Entities Maximum Loss Exposure
The table below summarizes the Company’s interest in a real estate joint venture as of November 30, 2025 (in thousands):
Entity%
Ownership		Initial
Investment		Additional
Investments		Net Loss Inception to
Date
Dissolution of Joint Venture (1)
Company’s
Variable
Interest
in Entity
Commitment
to Future
Additional
Investments
Company's
Maximum
Exposure
to Loss in
Entity
GolfPark Plaza, S.A.50 %$4,616 $2,402 $(129)$(6,889)$— $— $— 
(1)In the first quarter of fiscal year 2026, the Company dissolved its joint venture in GolfPark Plaza, S.A.
v3.25.4
DEBT (Tables)
 3 Months Ended
Nov. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings
Short-term borrowings consist of unsecured lines of credit and short-term overdraft borrowings. The following table summarizes the balances of total facilities, facilities used and facilities available (in thousands):
Facilities Used
Total Amount
of Facilities
Short-term
Borrowings
Letters of
Credit
Facilities
Available
Weighted average
interest rate
November 30, 2025 - Committed$75,000 $— $58 $74,942 — %
November 30, 2025 - Uncommitted96,000 7,701 — 88,299 7.2 
November 30, 2025 - Total$171,000 $7,701 $58 $163,241 7.1 
August 31, 2025 - Committed$75,000 $— $— $75,000 — %
August 31, 2025 - Uncommitted96,000 12,286 — 83,714 9.5 
August 31, 2025 - Total$171,000 $12,286 $— $158,714 9.5 %
Schedule of Changes in Long-Term Debt
The following table provides the changes in long-term debt for the three months ended November 30, 2025:
(Amounts in thousands)
Current portion of long-term debt
Long-term debt (net of current portion)
Total
Balances as of August 31, 2025$38,675 $147,922 $186,597 
(1)
Repayments of long-term debt
(2,113)(4,031)(6,144)
Reclassifications of long-term debt due in the next 12 months78 (78)— 
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar (2)
(42)(78)(120)
Balances as of November 30, 2025$36,598 $143,735 $180,333 
(3)
(1)The carrying amount of non-cash assets assigned as collateral for these loans was $185.6 million. The carrying amount of cash assets assigned as collateral for these loans was $26.5 million.
(2)These foreign currency translation adjustments are recorded within other comprehensive income.
(3)The carrying amount of non-cash assets assigned as collateral for these loans was $171.1 million. The carrying amount of cash assets assigned as collateral for these loans was $34.1 million.
Schedule of Annual Maturities of Long-Term Debt
Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended November 30,Amount
2026$36,598 
202757,109 
202826,119 
202918,019 
20303,162 
Thereafter39,326 
Total$180,333 
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Nov. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The following table summarizes agreements for which the Company has recorded cash flow hedge accounting for the three months ended November 30, 2025:
EntityDate
Entered
into		Derivative
Financial
Counter-
party		Derivative
Financial
Instruments		Initial
US$
Notional
Amount		US$
Loan
Held With		Floating Leg
(swap
counter-party)		Fixed Rate
for PSMT
Subsidiary		Settlement
Dates		Effective
Period of swap
Colombia subsidiary25-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$18,700,000PriceSmart, Inc.6.00%10.91 %27th day of each November, February, May and August beginning on February 27, 2025November 27, 2024 - November 27, 2027
Colombia subsidiary15-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%7.61 %17th day of each February, May, August and November beginning on February 18, 2025November 18, 2024 - November 17, 2026
Colombia subsidiary19-Sep-24Citibank, N.A. ("Citi")Cross currency interest rate swap$12,500,000PriceSmart, Inc.4.00%9.15 %24th day of each September, December, March and June beginning on December 24, 2024September 24, 2024 - September 24, 2029
Colombia subsidiary30-Nov-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.5.00%11.27 %30th day of each November, May, August and 28th day of each February (except in case of a leap year, 29th day of each February) beginning on February 29, 2024November 30, 2023 - November 30, 2026
Colombia subsidiary12-Apr-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.4.00%11.40 %11th day of each July, October, January and April, beginning on July 11, 2023April 12, 2023 - April 11, 2028
Colombia subsidiary3-May-22Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%9.04 %3rd day of each May, August, November and February, beginning on August 3, 2022May 3, 2022 - May 3, 2027
SD Property Managers, LLC16-Jun-25Fifth Third Bank, National AssociationInterest rate swap$12,500,000Fifth Third Bank, National AssociationVariable rate 1-month SOFR4.02 %1st day of each month beginning on July 1, 2025Jun 16, 2025 - June 16, 2035
Panama subsidiary11-Jul-24Bank of Nova Scotia ("Scotiabank")Interest rate swap$16,500,000Bank of Nova Scotia
3-month SOFR with a 2.95% floor
4.43 %1st day of each March, June, September and December beginning June 3, 2024February 29, 2024 - March 1, 2029
PriceSmart, Inc.7-Nov-16U.S. Bank, N.A. ("U.S. Bank") successor to Union Bank, N.A.Interest rate swap$35,700,000U.S. Bank
Variable rate 3-month SOFR plus 1.70%
3.65 %1st day of each month beginning on April 1, 2017March 1, 2017 - March 1, 2027
Schedule of Cash Flow Hedging Instruments
For the three months ended November 30, 2025 and November 30, 2024, the Company included the gain or loss on the hedged items (that is, variable-rate borrowings) in the same line item—interest expense—as the offsetting gain or loss on the related interest rate swaps as follows (in thousands):
Income Statement Classification
Interest expense on borrowings (1)
Cost of swaps (2)
Total
Interest expense for the three months ended November 30, 2025$854 $1,121 $1,975 
Interest expense for the three months ended November 30, 2024$1,225 $397 $1,622 
(1)This amount is representative of the interest expense recognized on the underlying hedged transactions.
(2)This amount is representative of the interest expense recognized on the interest rate swaps and cross-currency swaps designated as cash flow hedging instruments.
Schedule of Notional Amounts of Outstanding Derivative Positions
The total notional balance of the Company’s pay-fixed/receive-variable interest rate swaps and cross-currency interest rate swaps was as follows (in thousands):
 Notional Amount as of
Floating Rate Payer (Swap Counterparty)
November 30,
2025		August 31,
2025
U.S. Bank$27,200 $27,519 
Fifth Third Bank, National Association12,500 12,500 
Citibank N.A.71,200 71,200 
Scotiabank16,171 16,337 
Total$127,071 $127,556 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The table summarizes the effect of the fair value of interest rate swap and cross-currency interest rate swap derivative instruments that qualify for derivative hedge accounting and its associated tax effect on accumulated other comprehensive income/(loss) (in thousands):
November 30, 2025August 31, 2025
Derivatives designated as cash flow hedging instrumentsBalance Sheet
Classification		Fair
Value		Net Tax
Effect		Net
OCI		Fair
Value		Net Tax
Effect		Net
OCI
Cross-currency interest rate swapsOther current liabilities$(2,556)$895 $(1,661)$— $— $— 
Cross-currency interest rate swapsOther long-term liabilities(6,356)2,225 (4,131)(5,381)1,884 (3,497)
Interest rate swapsOther non-current assets552 (123)429 701 (157)544 
Interest rate swapsOther long-term liabilities(913)230 (683)(815)207 (608)
Net fair value of derivatives designated as hedging instruments$(9,273)$3,227 $(6,046)$(5,495)$1,934 $(3,561)
Schedule of Open Non-Deliverable Forward Foreign Exchange Contract
The following table summarizes the non-deliverable forward foreign exchange contracts that are open as of November 30, 2025:
Financial Derivative
(Counterparty)		SubsidiaryDates
Entered into (Range)		Derivative Financial
Instrument		Total Notional
Amounts
(in thousands)		Settlement
 Dates (Range)
Citibank, N.A. ("Citi")Colombia20-May-2025 - 21-Nov-2025Forward foreign exchange contracts (USD)$18,000 19-Dec-2025 - 22-May-2026
v3.25.4
SEGMENTS (Tables)
 3 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Revenues, Operating Costs and Balance Sheet Items
The following tables summarize by segment certain revenues, significant expense categories, operating costs and balance sheet items regularly provided to the CODM, (in thousands):
United
States
Operations		Central
American
Operations
Caribbean
Operations (1)
Colombia
Operations
Reconciling
Items (2)
Total
Three Months Ended November 30, 2025
Revenue from external customers$1,600 $833,487 $365,308 $182,334 $— $1,382,729 
Intersegment revenues546,205 8,041 2,307 2,701 (559,254)— 
Total revenues
547,805 841,528 367,615 185,035 (559,254)1,382,729 
Less (3):
Cost of goods sold162 686,342 299,892 151,948 — 1,138,344 
Intersegment cost of goods sold524,518 7,833 1,698 2,647 (536,696)— 
Warehouse club and other operations— 75,353 35,824 20,638 — 131,815 
General and administrative (4)
49,341 73 163 66 — 49,643 
Intersegment reimbursement of expenses(24,351)16,857 7,494 — — — 
Operating income (loss)
(1,865)55,070 22,544 9,736 (22,558)62,927 
Interest income from external sources347 1,523 1,019 60 — 2,949 
Interest income from intersegment sources1,303 1,709 2 — (3,014)— 
Interest expense from external sources(443)(1,055)(1,520)(1,402)— (4,420)
Interest expense from intersegment sources(1,114)(710)(361)(821)3,006 — 
Provision for income taxes(6,660)(5,768)(1,617)(1,484)— (15,529)
Other segment items (5)
(77)(2,476)(3,641)433 — (5,761)
Net income (loss)
$(8,509)$48,293 $16,426 $6,522 $(22,566)$40,166 
Depreciation, property and equipment(1,960)(12,177)(6,123)(3,717)— (23,977)
Long-lived assets (other than deferred tax assets)100,036 655,472 284,513 216,010 — 1,256,031 
Goodwill8,981 24,255 10,004 — — 43,240 
Total assets264,141 1,216,711 584,714 328,332 — 2,393,898 
Capital expenditures, net3,344 14,966 20,599 2,487 — 41,396 
Three Months Ended November 30, 2024
Revenue from external customers$9,618 $760,296 $345,382 $142,648 $— $1,257,944 
Intersegment revenues515,594 9,333 1,825 1,026 (527,778)— 
Total revenues
525,212 769,629 347,207 143,674 (527,778)1,257,944 
Less (3):
Cost of goods sold9,014 626,283 282,835 120,758 — 1,038,890 
Intersegment cost of goods sold495,426 9,070 1,829 988 (507,313)— 
Warehouse club and other operations— 68,058 33,590 16,207 — 117,855 
General and administrative (4)
42,525 189 134 91 — 42,939 
Intersegment reimbursement of expenses(20,081)13,971 6,110 — — — 
Operating income (loss)(1,672)52,058 22,709 5,630 (20,465)58,260 
Interest income from external sources110 1,574 493 43 — 2,220 
Interest income from intersegment sources1,708 1,482 101 — (3,291)— 
Interest expense from external sources(270)(589)(491)(1,345)— (2,695)
Interest expense from intersegment sources(1,111)(964)(493)(724)3,292 — 
Provision for income taxes(4,741)(6,847)(2,109)201 — (13,496)
Other segment items (5)
195 (2,931)(2,305)(1,820)— (6,861)
Net income (loss)$(5,781)$43,783 $17,905 $1,985 $(20,464)$37,428 
Depreciation, property and equipment(1,768)(10,944)(5,005)(3,145)— (20,862)
Long-lived assets (other than deferred tax assets)71,614 627,942 230,920 186,666 — 1,117,142 
Goodwill8,981 24,204 10,030 — — 43,215 
Investment in unconsolidated affiliates— 6,877 — — — 6,877 
Total assets210,842 1,103,690 496,459 276,691 — 2,087,682 
Capital expenditures, net572 15,445 9,890 2,465 — 28,372 
As of August 31, 2025
Long-lived assets (other than deferred tax assets)$90,663 $659,756 $262,543 $197,268 $— $1,210,230 
Goodwill
8,981 24,254 10,003 — — 43,238 
Investment in unconsolidated affiliates
— 6,889 — — — 6,889 
Total assets300,177 1,147,392 534,654 286,934 — 2,269,157 
(1)Management considers its club in the U.S. Virgin Islands to be part of its Caribbean operations.
(2)The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.
(3)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(4)General and administrative expenses include pre-opening expenses and loss on disposal of assets.
(5)Other segment items include other expense, net and loss of unconsolidated affiliates.
v3.25.4
COMPANY OVERVIEW AND BASIS OF PRESENTATION - Narrative (Details)
 3 Months Ended 9 Months Ended 18 Months Ended
May 31, 2026
property
Nov. 30, 2026
property
Nov. 30, 2026
property
Aug. 31, 2026
property
Nov. 30, 2025
warehouse
country
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         56
Number of countries | country         1
Ownership interest         100.00%
Scenario, Forecast          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores expected in the future | property   4      
Colombia          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         10
Costa Rica          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         9
Panama          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         7
Guatemala          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         7
Guatemala | Scenario, Forecast          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores | property       60  
Dominican Republic          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         5
Dominican Republic | Scenario, Forecast          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores expected in the future | property 1        
El Salvador          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         4
Trinidad          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         4
Honduras          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         3
Jamaica          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         2
Jamaica | Scenario, Forecast          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores expected in the future | property     1    
Nicaragua          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         2
Aruba          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         1
United States Virgin Islands          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         1
Barbados          
Company Overview And Basis Of Presentation [Line Items]          
Number of stores         1
Foreign Countries          
Company Overview And Basis Of Presentation [Line Items]          
Number of countries | country         12
Domestic Territories          
Company Overview And Basis Of Presentation [Line Items]          
Number of countries | country         1
Domestic Territories | United States          
Company Overview And Basis Of Presentation [Line Items]          
Number of countries | country         1
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
 3 Months Ended
Nov. 30, 2025
USD ($)
award
plotOfLand
Nov. 30, 2024
USD ($)
Aug. 31, 2025
USD ($)
Tax Receivables [Line Items]      
Gain on sale of joint venture $ 594,000 $ 0  
Money market funds, at fair value 31,900,000   $ 32,100,000
Goodwill 43,240,000 43,215,000 43,238,000
Income taxes receivable $ 50,346,000   48,350,000
Number of types of equity awards issued | award 3    
Asset impairment charge $ 0 $ 0  
GolfPark Plaza, S.A.      
Tax Receivables [Line Items]      
Gain on sale of joint venture $ 600,000    
Number of plots of land | plotOfLand 2    
Fair value of land $ 6,400,000    
Proceeds from sale of joint venture 1,100,000    
Two Countries      
Tax Receivables [Line Items]      
Income taxes receivable 10,400,000   10,500,000
Deferred tax assets, net $ 4,300,000   $ 3,900,000
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Restricted Cash (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Nov. 30, 2024
Cash and Cash Equivalents [Line Items]      
Short-term restricted cash $ 9,212 $ 11,061 $ 3,309
Long-term restricted cash 33,926 33,206 $ 12,209
Total restricted cash 43,138 $ 44,267  
Certificates of Deposit | Trinidad and Tobago, Dollars      
Cash and Cash Equivalents [Line Items]      
Total restricted cash 23,000    
Certificates of Deposit | United States of America, Dollars      
Cash and Cash Equivalents [Line Items]      
Total restricted cash $ 12,300    
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Value Added Tax Receivables (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Accounting Policies [Abstract]    
Prepaid expenses and other current assets $ 8,646 $ 7,387
Other non-current assets 26,237 28,431
Total amount of VAT receivables reported $ 34,883 $ 35,818
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Income Tax Receivables (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Accounting Policies [Abstract]    
Prepaid expenses and other current assets $ 29,078 $ 25,169
Other non-current assets 21,268 23,181
Total amount of income tax receivables reported $ 50,346 $ 48,350
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule Net Effect of Foreign Currency Translation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Accounting Policies [Abstract]    
Effect on other comprehensive income (loss) due to foreign currency restatement $ 15,526 $ (2,853)
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Foreign Currency Gains (Losses) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Accounting Policies [Abstract]    
Currency loss $ (6,240) $ (6,718)
v3.25.4
REVENUE RECOGNITION - Narrative (Details)
 3 Months Ended
Nov. 30, 2025
USD ($)
Disaggregation of Revenue [Line Items]  
Period where membership income is recognized ratably 12 months
Period where members can cancel membership 60 days
Period after which membership refunds are prorated over remaining term 60 days
Platinum membership rebate (as percent) 2.00%
Maximum platinum annual membership rebate $ 500
Breakage revenue (as percent) 5.00%
Platinum membership recorded liability (as percent) 95.00%
Platinum membership redemption rate (as percent) 100.00%
Gift Card  
Disaggregation of Revenue [Line Items]  
Platinum membership redemption period 1 year
v3.25.4
REVENUE RECOGNITION - Schedule of Contract Performance Liabilities (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Deferred membership income    
Disaggregation of Revenue [Line Items]    
Contract Liabilities $ 43,443 $ 41,739
Other contract performance liabilities    
Disaggregation of Revenue [Line Items]    
Contract Liabilities $ 31,165 $ 20,327
v3.25.4
REVENUE RECOGNITION - Schedule of Disaggregated Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Disaggregation of Revenue [Line Items]    
Total revenues $ 1,382,729 $ 1,257,944
Net merchandise sales    
Disaggregation of Revenue [Line Items]    
Total revenues 1,353,796 1,223,859
Foods & Sundries    
Disaggregation of Revenue [Line Items]    
Total revenues 637,957 579,999
Fresh Foods    
Disaggregation of Revenue [Line Items]    
Total revenues 415,575 366,284
Hardlines    
Disaggregation of Revenue [Line Items]    
Total revenues 144,925 144,195
Softlines    
Disaggregation of Revenue [Line Items]    
Total revenues 82,359 67,888
Food Service and Bakery    
Disaggregation of Revenue [Line Items]    
Total revenues 59,471 54,030
Health Services    
Disaggregation of Revenue [Line Items]    
Total revenues $ 13,509 $ 11,463
v3.25.4
EARNINGS PER SHARE - Schedule of the Computation of Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Earnings Per Share [Abstract]    
Net income $ 40,166 $ 37,428
Less: Allocation of income to unvested stockholders (1,227) (1,043)
Net income available for distribution, Basic $ 38,939 $ 36,385
Basic weighted average shares outstanding (in shares) 30,173 30,019
Add dilutive effect of performance stock units (two-class method) (in shares) 7 1
Diluted average shares outstanding 30,180 30,020
Basic net income per share (in dollars per share) $ 1.29 $ 1.21
Diluted net income per share (in dollars per share) $ 1.29 $ 1.21
v3.25.4
STOCKHOLDERS' EQUITY - Narrative (Details) - $ / shares
 3 Months Ended
Feb. 28, 2025
Nov. 30, 2024
Dividends Payable [Line Items]    
Common stock dividend declared (usd per share) $ 1.26 $ 0
O 2025 Q2 First Payment Dividends    
Dividends Payable [Line Items]    
Common stock dividends, cash paid (usd per share) 0.63  
O 2025 Q2 Second Payment Dividends    
Dividends Payable [Line Items]    
Common stock dividends, cash paid (usd per share) $ 0.63  
v3.25.4
STOCKHOLDERS' EQUITY - Schedule of Dividends (Details) - $ / shares
 3 Months Ended
Feb. 28, 2025
Nov. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Common stock dividend declared (usd per share) $ 1.26 $ 0
O 2025 Q2 First Payment Dividends    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Common stock dividends, cash paid (usd per share) 0.63  
O 2025 Q2 Second Payment Dividends    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Common stock dividends, cash paid (usd per share) $ 0.63  
v3.25.4
STOCKHOLDERS' EQUITY - Schedule of Components of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Feb. 28, 2025
Aug. 31, 2025
Aug. 31, 2024
Amount          
Beginning balance $ 1,304,790 $ 1,158,578   $ 1,247,372 $ 1,122,965
Ending balance 1,304,790 1,158,578   1,247,372 1,122,965
Accumulated Other Comprehensive Loss          
Amount          
Beginning balance (144,796) (167,606)   (161,439) (164,590)
Ending balance (144,796) (167,606)   $ (161,439) $ (164,590)
Foreign currency translation adjustments          
Amount          
Other comprehensive income, before reclassification 15,526 (2,853) $ 3,879    
Defined benefit pension plan          
Amount          
Other comprehensive income, before reclassification 46 71 275    
Derivative instruments          
Amount          
Other comprehensive income, before reclassification $ 1,071 $ (234) (1,274)    
Amounts reclassified from accumulated other comprehensive loss          
Amount          
Amounts reclassified from accumulated other comprehensive loss     $ 271    
v3.25.4
STOCKHOLDERS' EQUITY - Schedule of Retained Earnings Not Available for Distribution (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Equity [Abstract]    
Retained earnings not available for distribution $ 9,712 $ 9,741
v3.25.4
COMMITMENTS AND CONTINGENCIES - Narrative (Details)
$ in Thousands
Nov. 30, 2025
USD ($)
agreement
renewalOption
country
Aug. 31, 2025
USD ($)
Commitments And Contingencies [Line Items]    
Accrual for taxes other than income taxes, current $ 1,100  
Number of countries | country 1  
Income taxes receivable $ 50,346 $ 48,350
Contractual obligation $ 8,500 11,500
Number of lease agreements | agreement 2  
Land purchase option, number of agreements | agreement 3  
Purchase options, land $ 13,900  
Two Countries    
Commitments And Contingencies [Line Items]    
Income taxes receivable 10,400 10,500
Deferred tax assets, net $ 4,300 $ 3,900
Guatemala    
Commitments And Contingencies [Line Items]    
Lease not yet commenced (in years) 20 years  
Lease note yet commenced, renewal (in years) 5 years  
Guatemala | Building    
Commitments And Contingencies [Line Items]    
Lease not yet commenced, liability $ 12,100  
Jamaica    
Commitments And Contingencies [Line Items]    
Lease not yet commenced (in years) 30 years  
Number of renewal options | renewalOption 2  
Lease note yet commenced, renewal (in years) 10 years  
Period following commencement date 15 months  
Rent payment annual increase (percent) 2.75%  
Jamaica | Building    
Commitments And Contingencies [Line Items]    
Lease not yet commenced, liability $ 27,600  
v3.25.4
COMMITMENTS AND CONTINGENCIES - Schedule of Estimated Future Minimum Lease (Details) - Guatemala
$ in Thousands
Nov. 30, 2025
USD ($)
Other Commitments [Line Items]  
2026 $ 280
2027 1,570
2028 2,198
2029 2,127
2030 2,058
Thereafter 27,601
Total future lease payments $ 35,834
v3.25.4
COMMITMENTS AND CONTINGENCIES - Schedule of Variable Interest Entities Maximum Loss Exposure (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Aug. 31, 2025
Variable Interest Entity [Line Items]    
Company’s ‎Variable ‎Interest ‎in Entity $ 0 $ 6,889
GolfPark Plaza, S.A.    
Variable Interest Entity [Line Items]    
% ‎Ownership 50.00%  
Initial ‎Investment $ 4,616  
Additional ‎Investments 2,402  
Net Loss Inception to ‎Date (129)  
Dissolution of Joint Venture (6,889)  
Company’s ‎Variable ‎Interest ‎in Entity 0  
Commitment to Future Additional ‎Investments 0  
Company's ‎Maximum Exposure ‎to Loss in ‎Entity $ 0  
v3.25.4
DEBT - Schedule of Short-Term Borrowings (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Facilities    
Short-Term Debt [Line Items]    
Total Amount of Facilities $ 171,000 $ 171,000
Facilities Available $ 163,241 $ 158,714
Weighted average interest rate 7.10% 9.50%
Committed    
Short-Term Debt [Line Items]    
Total Amount of Facilities $ 75,000 $ 75,000
Facilities Available $ 74,942 $ 75,000
Weighted average interest rate 0.00% 0.00%
Uncommitted    
Short-Term Debt [Line Items]    
Total Amount of Facilities $ 96,000 $ 96,000
Facilities Available $ 88,299 $ 83,714
Weighted average interest rate 7.20% 9.50%
Short-term Borrowings | Facilities    
Short-Term Debt [Line Items]    
Facilities Used $ 7,701 $ 12,286
Short-term Borrowings | Committed    
Short-Term Debt [Line Items]    
Facilities Used 0 0
Short-term Borrowings | Uncommitted    
Short-Term Debt [Line Items]    
Facilities Used 7,701 12,286
Letters of Credit | Facilities    
Short-Term Debt [Line Items]    
Facilities Used 58 0
Letters of Credit | Committed    
Short-Term Debt [Line Items]    
Facilities Used 58 0
Letters of Credit | Uncommitted    
Short-Term Debt [Line Items]    
Facilities Used $ 0 $ 0
v3.25.4
DEBT - Narrative (Details)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
USD ($)
bank
facility
Aug. 31, 2025
USD ($)
Debt Instrument [Line Items]    
Number of facilities in a committed credit agreement | facility 1  
Number of banks | bank 1  
Annual commitment fee 0.25%  
Total future lease payments $ 180,333 $ 186,597
Committed    
Debt Instrument [Line Items]    
Credit facility current borrowing capacity 75,000  
Group of Subsidiaries | Covenants    
Debt Instrument [Line Items]    
Total future lease payments $ 73,500 $ 78,100
v3.25.4
DEBT - Schedule of Changes in Long-Term Debt (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Aug. 31, 2025
Debt [Roll Forward]      
Current ‎portion of ‎long-term debt $ 38,675    
Long-term debt (net of current portion) 147,922    
Total 186,597    
Repayments of long-term debt      
Current ‎portion of ‎long-term debt (2,113)    
Long-term debt (net of current portion) (4,031)    
Total (6,144) $ (19,943)  
Reclassifications of long-term debt due in the next 12 months      
Current portion of long-term debt 78    
Long-term debt (net of current portion) (78)    
Total 0    
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar      
Current portion of long-term debt (42)    
Long-term debt (net of current portion) (78)    
Total (120)    
Current portion of long-term debt 36,598    
Long-term debt (net of current portion) 143,735    
Total 180,333   $ 186,597
Non-cash Assets      
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar      
Collateral amount 171,100   185,600
Cash Assets      
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar      
Collateral amount $ 34,100   $ 26,500
v3.25.4
DEBT - Schedule of Annual Maturities of Long-Term Debt (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Debt Disclosure [Abstract]    
2026 $ 36,598  
2027 57,109  
2028 26,119  
2029 18,019  
2030 3,162  
Thereafter 39,326  
Total $ 180,333 $ 186,597
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Interest Rate Derivatives (Details) - Cash Flow Hedging
Nov. 30, 2025
USD ($)
Colombia Subsidiary $18.7M Cross Currency Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 18,700,000
Floating Leg ‎(swap ‎counter-party) 6.00%
Fixed Rate ‎for PSMT ‎Subsidiary 10.91%
Colombia Subsidiary $10M Cross Currency Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 10,000,000
Floating Leg ‎(swap ‎counter-party) 3.00%
Fixed Rate ‎for PSMT ‎Subsidiary 7.61%
Colombia $12.5M Cross Currency Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 12,500,000
Floating Leg ‎(swap ‎counter-party) 4.00%
Fixed Rate ‎for PSMT ‎Subsidiary 9.15%
Colombia Subsidiary $10M Cross Currency Interest Rate Swap One  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 10,000,000
Floating Leg ‎(swap ‎counter-party) 5.00%
Fixed Rate ‎for PSMT ‎Subsidiary 11.27%
Colombia Subsidiary $10M Cross Currency Interest Rate Swap Two  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 10,000,000
Floating Leg ‎(swap ‎counter-party) 4.00%
Fixed Rate ‎for PSMT ‎Subsidiary 11.40%
Colombia Subsidiary $10M Cross Currency Interest Rate Swap Three  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 10,000,000
Floating Leg ‎(swap ‎counter-party) 3.00%
Fixed Rate ‎for PSMT ‎Subsidiary 9.04%
Panama subsidiary $16.5M Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 12,500,000
Fixed Rate ‎for PSMT ‎Subsidiary 4.02%
Pricesmart, Inc $35.7M Cross Currency Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 16,500,000
Floating Leg ‎(swap ‎counter-party) 2.95%
Fixed Rate ‎for PSMT ‎Subsidiary 4.43%
SD Property Managers, LLC $12.5M Interest Rate Swap  
Derivative [Line Items]  
Initial ‎US$ ‎Notional ‎Amount $ 35,700,000
Floating Leg ‎(swap ‎counter-party) 1.70%
Fixed Rate ‎for PSMT ‎Subsidiary 3.65%
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Cash Flow Hedging Instruments (Details) - Cash Flow Hedging - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Derivative [Line Items]    
Derivative, gain (loss) on derivative, net $ 1,975 $ 1,622
Interest expense on borrowings    
Derivative [Line Items]    
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest Expense, Nonoperating Interest Expense, Nonoperating
Derivative, gain (loss) on derivative, net $ 854 $ 1,225
Cost of swaps    
Derivative [Line Items]    
Derivative, gain (loss) on derivative, net $ 1,121 $ 397
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) - Cash Flow Hedging - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Derivative [Line Items]    
Derivative liability, notional amount $ 127,071 $ 127,556
U.S. Bank    
Derivative [Line Items]    
Derivative liability, notional amount 27,200 27,519
Fifth Third Bank, National Association    
Derivative [Line Items]    
Derivative liability, notional amount 12,500 12,500
Citibank N.A.    
Derivative [Line Items]    
Derivative liability, notional amount 71,200 71,200
Scotiabank    
Derivative [Line Items]    
Derivative liability, notional amount $ 16,171 $ 16,337
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule Of Open Non-Deliverable Forward Foreign Exchange Contract (Details)
Nov. 30, 2025
USD ($)
Forward foreign exchange contracts | 19-Dec-2025 - 22-May-2026 | Fair Value Hedging  
Derivative [Line Items]  
Notional amount $ 18,000,000
v3.25.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Aug. 31, 2025
Derivative [Line Items]    
Derivative liability, current $ (3,340) $ (551)
Derivative Liability, Noncurrent $ (7,269) $ (6,196)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Other accrued expenses and other current liabilities (includes $3,340 and $551 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments) Other accrued expenses and other current liabilities (includes $3,340 and $551 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments)
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities (includes $7,269 and $6,196 for the fair value of derivative instruments and $14,203 and $13,628 for post-employment plans as of November 30, 2025 and August 31, 2025, respectively) Other long-term liabilities (includes $7,269 and $6,196 for the fair value of derivative instruments and $14,203 and $13,628 for post-employment plans as of November 30, 2025 and August 31, 2025, respectively)
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current assets (includes $552 and $701 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments) Other non-current assets (includes $552 and $701 as of November 30, 2025 and August 31, 2025, respectively, for the fair value of derivative instruments)
Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Fair ‎Value $ (9,273) $ (5,495)
Net Tax ‎Effect 3,227 1,934
Net ‎OCI (6,046) (3,561)
Cross-currency interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative liability, current (2,556) 0
Net Tax ‎Effect 895 0
Net ‎OCI (1,661) 0
Cross-currency interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative Liability, Noncurrent (6,356) (5,381)
Net Tax ‎Effect 2,225 1,884
Net ‎OCI (4,131) (3,497)
Interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Fair value of asset, current 552 701
Net Tax ‎Effect (123) (157)
Net ‎OCI 429 544
Interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative Liability, Noncurrent (913) (815)
Net Tax ‎Effect 230 207
Net ‎OCI $ (683) $ (608)
v3.25.4
SEGMENTS - Narrative (Details)
 3 Months Ended
Nov. 30, 2025
country
warehouse
Segment Reporting Information [Line Items]  
Number of reportable segments not disclosed SEGMENTS
Number of stores | warehouse 56
Number of countries 1
Foreign Countries  
Segment Reporting Information [Line Items]  
Number of countries 12
Domestic Territories  
Segment Reporting Information [Line Items]  
Number of countries 1
v3.25.4
SEGMENTS - Summary of Segment Revenues, Operating Costs and Balance Sheet Items (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Aug. 31, 2025
Segment Reporting Information [Line Items]      
Revenue from external customers $ 1,382,729 $ 1,257,944  
Cost of goods sold 1,138,344 1,038,890  
Warehouse club and other operations 131,815 117,855  
General and administrative 49,643 42,939  
Operating income (loss) 62,927 58,260  
Interest Income, Other 2,949 2,220  
Interest Expense, Nonoperating (4,420) (2,695)  
Provision for income taxes (15,529) (13,496)  
Other segment item (5,761) (6,861)  
Net income (loss) 40,166 37,428  
Depreciation, property and equipment (23,977) (20,862)  
Long-lived assets (other than deferred tax assets) 1,256,031 1,117,142 $ 1,210,230
Goodwill 43,240 43,215 43,238
Investment in unconsolidated affiliates   6,877 6,889
Total assets 2,393,898 2,087,682 2,269,157
Capital expenditures, net 41,396 28,372  
United ‎States ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 1,600 9,618  
Central ‎American ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 833,487 760,296  
Caribbean Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 365,308 345,382  
Colombia Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 182,334 142,648  
Operating Segments      
Segment Reporting Information [Line Items]      
Total assets 264,141 210,842  
Operating Segments | United ‎States ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 547,805 525,212  
Cost of goods sold 162 9,014  
Warehouse club and other operations 0 0  
General and administrative 49,341 42,525  
Operating income (loss) (1,865) (1,672)  
Interest Income, Other 347 110  
Interest Expense, Nonoperating (443) (270)  
Provision for income taxes (6,660) (4,741)  
Other segment item (77) 195  
Net income (loss) (8,509) (5,781)  
Depreciation, property and equipment (1,960) (1,768)  
Long-lived assets (other than deferred tax assets) 100,036 71,614 90,663
Goodwill 8,981 8,981 8,981
Investment in unconsolidated affiliates   0 0
Total assets     300,177
Capital expenditures, net 3,344 572  
Operating Segments | Central ‎American ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 841,528 769,629  
Cost of goods sold 686,342 626,283  
Warehouse club and other operations 75,353 68,058  
General and administrative 73 189  
Operating income (loss) 55,070 52,058  
Interest Income, Other 1,523 1,574  
Interest Expense, Nonoperating (1,055) (589)  
Provision for income taxes (5,768) (6,847)  
Other segment item (2,476) (2,931)  
Net income (loss) 48,293 43,783  
Depreciation, property and equipment (12,177) (10,944)  
Long-lived assets (other than deferred tax assets) 655,472 627,942 659,756
Goodwill 24,255 24,204 24,254
Investment in unconsolidated affiliates   6,877 6,889
Total assets 1,216,711 1,103,690 1,147,392
Capital expenditures, net 14,966 15,445  
Operating Segments | Caribbean Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 367,615 347,207  
Cost of goods sold 299,892 282,835  
Warehouse club and other operations 35,824 33,590  
General and administrative 163 134  
Operating income (loss) 22,544 22,709  
Interest Income, Other 1,019 493  
Interest Expense, Nonoperating (1,520) (491)  
Provision for income taxes (1,617) (2,109)  
Other segment item (3,641) (2,305)  
Net income (loss) 16,426 17,905  
Depreciation, property and equipment (6,123) (5,005)  
Long-lived assets (other than deferred tax assets) 284,513 230,920 262,543
Goodwill 10,004 10,030 10,003
Investment in unconsolidated affiliates   0 0
Total assets 584,714 496,459 534,654
Capital expenditures, net 20,599 9,890  
Operating Segments | Colombia Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 185,035 143,674  
Cost of goods sold 151,948 120,758  
Warehouse club and other operations 20,638 16,207  
General and administrative 66 91  
Operating income (loss) 9,736 5,630  
Interest Income, Other 60 43  
Interest Expense, Nonoperating (1,402) (1,345)  
Provision for income taxes (1,484) 201  
Other segment item 433 (1,820)  
Net income (loss) 6,522 1,985  
Depreciation, property and equipment (3,717) (3,145)  
Long-lived assets (other than deferred tax assets) 216,010 186,666 197,268
Goodwill 0 0 0
Investment in unconsolidated affiliates   0 0
Total assets 328,332 276,691 286,934
Capital expenditures, net 2,487 2,465  
Reconciling Items      
Segment Reporting Information [Line Items]      
Cost of goods sold 0 0  
Warehouse club and other operations 0 0  
General and administrative 0 0  
Operating income (loss) (22,558) (20,465)  
Interest Income, Other 0 0  
Interest Expense, Nonoperating 0 0  
Provision for income taxes 0 0  
Other segment item 0 0  
Net income (loss) (22,566) (20,464)  
Depreciation, property and equipment 0 0  
Long-lived assets (other than deferred tax assets) 0 0 0
Goodwill 0 0 0
Investment in unconsolidated affiliates   0 0
Total assets 0 0 $ 0
Capital expenditures, net 0 0  
Corporate And Eliminations      
Segment Reporting Information [Line Items]      
Revenue from external customers (559,254) (527,778)  
Intersegment revenues      
Segment Reporting Information [Line Items]      
Revenue from external customers (559,254) (527,778)  
Cost of goods sold (536,696) (507,313)  
General and administrative 0 0  
Interest Income, Other (3,014) (3,291)  
Interest Expense, Nonoperating 3,006 3,292  
Intersegment revenues | United ‎States ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 546,205 515,594  
Cost of goods sold 524,518 495,426  
General and administrative (24,351) (20,081)  
Interest Income, Other 1,303 1,708  
Interest Expense, Nonoperating (1,114) (1,111)  
Intersegment revenues | Central ‎American ‎Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 8,041 9,333  
Cost of goods sold 7,833 9,070  
General and administrative 16,857 13,971  
Interest Income, Other 1,709 1,482  
Interest Expense, Nonoperating (710) (964)  
Intersegment revenues | Caribbean Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 2,307 1,825  
Cost of goods sold 1,698 1,829  
General and administrative 7,494 6,110  
Interest Income, Other 2 101  
Interest Expense, Nonoperating (361) (493)  
Intersegment revenues | Colombia Operations      
Segment Reporting Information [Line Items]      
Revenue from external customers 2,701 1,026  
Cost of goods sold 2,647 988  
General and administrative 0 0  
Interest Income, Other 0 0  
Interest Expense, Nonoperating (821) (724)  
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Revenue from external customers $ 0 $ 0