Categoría: Influencers

SAN DIEGO, Feb. 5, 2021 /PRNewswire/ — PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of January 2021, net merchandise sales grew 5.2% to $267.1 million from $254.0 million in January a year earlier. Foreign currency exchange fluctuations impacted net merchandise sales negatively by 3.5%, or $8.9 million, versus the same one-month period in the prior year. There were 47 warehouse clubs in operation at the end of January 2021 and 45 warehouse clubs in operation at the end of January 2020.

For the four weeks ended January 24, 2021, comparable net merchandise sales for the 45 warehouse clubs open at least 13 ½ full months increased 2.8% when compared to the same period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 3.3%, or $7.7 million, versus the same period in the prior year.

Sherry S. Bahrambeygui, Chief Executive Officer, commented:

«In January, net merchandise sales and comparable net merchandise sales grew despite a surge in COVID cases and increased COVID-related restrictions in some of our markets. Consolidated comparable sales increased in January but were partially offset by declines in Colombia and Trinidad. The Colombia comparable net merchandise sales decline was primarily due to two significant factors:  the increase in reported COVID cases that drove an increase in restrictions on circulation and the impact from sales that transferred from existing clubs to our recently opened Usaquén club in Bogotá. Sales declined in our Trinidad market largely due to our decision to limit U.S. merchandise imports because of ongoing insufficient U.S. dollar liquidity. We are pursuing alternative solutions to mitigate the current illiquidity challenges in Trinidad, while continuing to reassess the current limitations on an ongoing basis. As this pandemic persists, we lost approximately 70 club days in January, where in-club shopping was prohibited. In addition, several locations contended with reduced operating hours, restrictions on segments of the population permitted to shop or circulate, limitations on the number of people allowed inside our clubs and restrictions on certain areas of our business such as food services and Optical.

«Our Click & Go™ service, including curbside pickup and delivery, contributed approximately 3.6% of total net merchandise sales for the month. Delivery through Click &Go™ is now available in all of our markets, and the demand for delivery continues to grow as a portion of total Click & Go™ sales. Developing greater efficiencies remains a priority, especially within these new sales channels. We recently introduced the option for our Members to select specific dates and windows of time for curbside pickup and delivery, which allows us to improve service and offer greater convenience to our Members.

«Our team’s persistence, performance and insistence to continually improve is remarkable, especially in the face of ongoing challenges and uncertainties resulting from the recent resurgence of COVID in our markets. Thank you for your dedication.»

Fiscal year to date, which includes the five months ended January 31, 2021, net merchandise sales increased 6.0% to $1,478.1 million from $1,395.0 million for the five months ended January 31, 2020. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by 3.4% or $46.9 million versus the same five-month period in the prior year.

For the twenty-one-week period ended January 24, 2021, comparable net merchandise sales increased 2.2% compared to the same twenty-one-week period a year ago. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 3.3% or $43.9 million versus the same prior year period.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 47 warehouse clubs in 12 countries and one U.S. territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinidad and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs. 

The Company reports comparable net merchandise sales on a «same week» basis with 13 weeks in each quarter beginning on a Monday and ending on a Sunday. The periods are established at the beginning of the fiscal year to provide as close a match as possible to the calendar month and quarter that is used for financial reporting purposes.  This approach equalizes the number of weekend days and weekdays in each period for an improved sales comparison, as the Company experiences higher merchandise club sales on the weekends. Each of the warehouse clubs used in the calculations was open for at least 13 ½ calendar months before its results for the current period were compared with its results for the prior period.

The term «currency exchange rates» refers to the currency exchange rates the Company uses to convert net merchandise and comparable net merchandise sales for all countries where the functional currency is not the U.S. dollar into U.S. dollars. The Company calculates the effect of changes in currency exchange rates as the difference between current period activities translated using the current period’s currency exchange rates and the comparable prior year period’s currency exchange rates. The Company believes the disclosure of the effects of currency exchange rate fluctuations on the Company’s results permits investors to understand better the Company’s underlying performance.

Club days lost means the total number of days one or more clubs are closed for an entire day because of government prohibitions on offering in-store shopping. For example, if one club was prohibited from offering in-store sales for five days during a month and another club was prohibited from offering in-store sales for two days during that month, we would say that we had seven club days lost during the month.

This press release may contain forward-looking statements concerning the Company’s anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company’s performance relative to competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, but are not limited to, statements containing the words «expect,» «believe,» «will,» «may,» «should,» «project,» «estimate,» «anticipated,» «scheduled,» and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, volatility in currency exchange rates, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of member or business information, cost increases from product and service providers, interruption of supply chains, COVID-19 related factors and challenges, including among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have limited access for our Members, and shifts in demand away from discretionary or higher priced products to lower priced products, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to ir@pricesmart.com.

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SOURCE PriceSmart, Inc.

WASHINGTON, Feb. 5, 2021 /PRNewswire/ — Arcadia, a monthly subscription service that connects renters and homeowners across the US to wind and solar energy through their utility accounts, today announced a new partnership with Biogen, a pioneer in neuroscience, that will offer all US-based Biogen employees access to 100% renewable energy in their homes. Biogen is covering Arcadia membership costs for US-based employees, adding a new benefit that advances its Healthy Climate, Healthy Lives^™ initiative, a commitment to meaningfully engage its employees in its efforts to go fossil fuel free and improve public health. Arcadia’s renewable energy offering is a key component of the employee engagement goals for this initiative, through which Biogen became the first Fortune 500 company committing to become fossil fuel free across its operations by 2040.

In markets where regulation allows, such as Massachusetts, where Biogen is headquartered, employees can further increase their impact by signing up for community solar through Arcadia. Community solar lets customers route a portion of their energy bill to support a local solar farm.

Millions of American employees are using electricity at home rather than in the office. Arcadia’s residential energy data shows an average 2% increase in energy usage and a 6% increase in electricity bills for households in 2020. Due to limited mobility in the pandemic, home electricity use has become the greatest contributor to climate change for many employees. Arcadia is working with businesses such as Biogen to get employees easy access to renewable energy and community solar to reduce their environmental impact.

«It’s never been a more important time to fight for a renewable energy future and take action against climate change,» said Alexa Minerva, Senior Director of Partnerships at Arcadia. «Companies are paying more attention to their corporate sustainability goals and making climate-conscious decisions. It’s great to see Biogen leverage Arcadia’s platform to do good for its employees and the planet.»

«We are excited to collaborate with Arcadia and enable employees to make the switch to 100% renewable electricity at home,» said Nicole Murphy, Senior Vice President of Global Manufacturing and Technical Operations at Biogen. «In 2014 we achieved carbon neutrality through our commitment to purchase 100% of our electricity from renewable sources. Now, as part of Healthy Climate, Healthy Lives, we want to further address our Scope 3 emissions. By creating opportunities for our employees to engage and advance our goals for climate, health and equity we aim to be a catalyst for positive change globally and reduce their impact.»

For Biogen employees participating in the company’s Renewable Electricity Opt-in Program, Biogen will cover the cost premium of purchasing 100% renewable electricity. The company has a goal to have all employees participate in this program by 2030 to help transition towards a world without fossil fuels. US-based employees have the option to participate in the Arcadia subscription program, while those in the US and international locations that have already signed up to a 100% renewable electricity contract with their home energy supplier can receive a fixed annual reimbursement of $200 USD. For employees that cannot enroll in renewable electricity programs due to regulatory restrictions, who do not pay their electricity, or that want an alternative to the fixed annual reimbursement, Biogen will purchase and retire 11 megawatt-hours of renewable energy credits, an amount equal to the average household usage.

About Arcadia renewable energy benefits

• Arcadia connects companies in any state with 100% clean energy for their employees’ homes. Companies can also choose to subsidize monthly electric bills for their teams through the platform.
• If employees live in Colorado, Illinois, Maine, Maryland, Massachusetts, New York, or Rhode Island, they can sign up for community solar. This lets them route a portion of their energy bill to support a local solar farm. In doing so, they’re not just connecting their home to clean energy, they’re also adding more clean energy to their local grid.
• Employees have access to their own Arcadia account for their home. An account takes two minutes to set up, streamlines utility bill payments, and lets employees track their clean energy impact.
• Businesses have access to sustainability reports that can be used in their scope 3 emissions reporting.

Scope 3 emissions, also referred to as «value chain emissions,» come from activities that aren’t directly controlled by a company but that are still connected to it, such as transportation of goods and travel. Scope 3 emissions make up the largest source of greenhouse gas emissions for many companies. With employees working from home and traveling less, companies interested in managing their carbon emissions should be exploring strategies to reduce emissions from home energy use.

For more information on Arcadia’s employee benefits program and ways you can partner with Arcadia, please visit www.arcadia.com/partners.

ABOUT ARCADIA
Arcadia gives customers a simple, easy, and affordable way to choose renewable energy, connecting their home and community to the highest standards of clean energy. Founded in 2014, Arcadia integrates with 125 utilities in all 50 states, manages 4.5 terawatt-hours of residential energy demand, and is the largest manager of residential community solar subscribers in the US. Join us in achieving our vision of a 100% renewable energy future at www.arcadia.com. 

Contact:
Brennan Johnson
401-556-0662
brennan.johnson@arcadia.com

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SOURCE Arcadia

WASHINGTON, Feb. 5, 2021 /PRNewswire/ — Arcadia, a monthly subscription service that connects renters and homeowners across the U.S. to clean energy through their existing utility, today announced a new partnership with Goldman Sachs that will offer all of the firm’s U.S.-based employees access to 100% clean energy in their homes. Arcadia’s nationwide platform makes it possible for any U.S. employee to participate no matter their location.

For workplaces, millions of American employees are using more electricity at home rather than in the office. As home energy consumption increases, Arcadia is working with businesses like Goldman Sachs to get their employees easy access to clean energy to reduce their environmental impact.

Arcadia residential energy data shows an average 2% increase in energy usage and a 6% bill increase for households in 2020, with home electricity use becoming an individual’s greatest contributor to climate change due to lessened travel during the pandemic.

«It’s never been a more important time to prioritize a renewable energy future and take action on climate change,» said Kiran Bhatraju, CEO and Founder of Arcadia. «Companies are paying more attention to their corporate sustainability goals, and in making climate-conscious decisions Goldman Sachs demonstrates how businesses  can leverage Arcadia’s platform to do good for their employees and the planet.»

Dina Powell McCormick, Global Head of Sustainability and Inclusive Growth, Goldman Sachs, said, «Our firm has been carbon neutral since 2015, but with COVID and our teams working from home, we realized we needed to do more to help our employees improve their own carbon footprints and Arcadia has been a great solution.»

About Arcadia clean energy benefits

• Arcadia connects workplaces in any state with 100% clean energy for their employee’s homes, and companies can choose to subsidize monthly bills for their team through the platform.
• If employees live in any one of these states they can also sign up for community solar: MA, RI, NY, IL, CO, MD, and ME. This lets them route a portion of their energy bill to support a local solar farm, so they’re not just connecting their home to clean energy, they’re also adding more clean energy to their local grid.
• Employees have access to their own Arcadia account for their home, which takes 3 minutes to set up, streamlines utility bill payments and comes with impact tracking and a monthly impact reporting.
• Businesses have access to sustainability reports that can be used to manage their scope 3 emissions reporting.

Scope 3 emissions, also referred to as «value chain emissions» are activities that represent the largest source of greenhouse gas emissions beyond the control of a company, normally including transportation and travel. With employees working from home and traveling less than ever, all companies interested in managing their carbon emissions should be exploring strategies to reduce emissions from home energy use.

For more information on Arcadia’s employee benefits program and ways you can partner with Arcadia, please visit www.arcadia.com/partners

ABOUT ARCADIA

Arcadia gives customers a simple, easy, and affordable way to choose clean energy, connecting their home and community to the highest standards of clean energy in all 50 states.. Founded in 2014, Arcadia integrates with 125 utilities in all 50 states, manages 4.5 terawatt-hours of residential energy demand, and is the largest manager of residential community solar subscribers in the U.S. Join us in achieving our vision of a 100% clean energy future at www.arcadia.com. 

Media Contact: Brennan Johnson, 401-556-0662, brennan.johnson@arcadia.com

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SOURCE Arcadia