San Diego-based Pricemart, Inc. (Nasdaq: PSMT) announced May 21 that it has acquired land in Panama and Dominican Republic with plans to open new warehouse clubs in each location.
In Panama, the site will be located in the city of Santiago and will be the sixth Pricemart to open in the Central American country. The warehouse club in the Caribbean country of Dominican Republic will mark its fifth location there and will open in the capital city of Santo Domingo.
Both warehouse clubs are slated to open in spring 2019.
Pricemart, which owns and operates membership-type shopping clubs in Latin America and the Caribbean, currently operates 41 warehouse clubs in 12 countries and one U.S. territory, including seven each in Colombia and Costa Rica; five in Panama; four each in Trinidad and Dominican Republic; three each in Guatemala and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands.