PriceSmart, Inc. (NASDAQ:PSMT) Q2 2022 Earnings Conference Call April 8, 2022 12:00 PM ET

Company Participants

Sherry Bahrambeygui - CEO

Michael McCleary - CFO

Conference Call Participants

Jon Braatz - Kansas City Capital Associates

Rodrigo Echagaray - Scotiabank

Operator

Good afternoon, everyone, and welcome to PriceSmart, Inc.'s Earnings Release Conference Call for the Second Quarter of Fiscal Year 2022, which ended on February 28, 2022.

After remarks from our company's representatives, Ms. Sherry Bahrambeygui, Chief Executive Officer; and Michael McCleary, Chief Financial Officer, you will be given an opportunity to ask questions as time permits.

As a reminder, this conference call is limited to 1 hour and is being recorded today, Friday, April 8, 2022. A digital replay will be available following the conclusion of today's conference call, through April 15, 2022, by dialing 1 (877) 344-7529 for domestic callers or 1 (412) 317-0088 for international callers and by entering the replay access code 5341114.

For opening remarks, I would like to turn the call over to PriceSmart's Chief Financial Officer, Michael McCleary. Please proceed, sir.

Michael McCleary

Thank you, and welcome to the PriceSmart earnings call for the second quarter of fiscal year 2022. We will be discussing the information that we provided in our earnings press release and our 10-Q, which were both released yesterday afternoon, April 7, 2022.

You can find these documents on our Investor Relations website at investors.pricesmart.com, where you can also sign up for e-mail alerts. As a reminder, all statements made on this conference call other than statements of historical fact are forward-looking statements concerning the company's anticipated plans, revenues and related matters. Forward-looking statements include, but are not limited to, statements containing the words expect, believe, plan, will, may, should, estimate and some other expressions.

All forward-looking statements are based on current expectations and assumptions as of today, April 8, 2022. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the risks detailed in the company's most recent annual report on Form 10-K and other filings with the SEC which are accessible on the SEC's website at www.sec.gov. These risks may be updated from time to time. The company undertakes no obligation to update forward-looking statements made during this call.

Now, I will turn the call over to Sherry Bahrambeygui, PriceSmart's Chief Executive Officer.

Sherry Bahrambeygui

Thank you, Michael. Good day, everyone, and welcome to our second quarter fiscal 2022 earnings call. We had a quiet quarter and with net merchandise sales surpassing $1 billion for the first time and membership setting historical records, we're feeling very positive about our results.