Founder, Interim Chief Executive Officer & Chairman, Pricesmart
Search every verified Robert Price interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Robert Price, founder, interim chief executive officer, and chairman of PriceSmart, discussed the company’s third quarter fiscal 2025 financial results on a July 14, 2025 earnings call. He announced that David Price will become the new chief executive officer effective September 1, 2025, and that Price will transition to the role of executive chairman. Price also acknowledged the retirement of CFO Michael McClary and welcomed Alberto Hernandez as the new chief financial officer. During the call, Price described Chile as a potential new market, stating that it has a strong middle class and a stable government, but noted that any expansion there remains a work in progress and nothing is finalized. He also addressed currency exposure, saying the company constantly evaluates the FX premium and will factor it into future calculations. In a podcast episode released in August 2025, Price recounted the early history of Price Club, describing how the company nearly failed twice before succeeding. He stated that the membership fee was originally conceived as part of gross margin to allow lower shelf prices. Price emphasized the company’s commitment to paying good wages and benefits, saying the goal is to be smarter in operations rather than exploit employees. He also discussed the company’s role in the regions where it operates, stating that PriceSmart aims to improve societies economically by buying locally and creating jobs, and that the company is in a unique position to help make it more attractive for people to stay in their home countries.
“As we have previously announced, David Price will be PriceSmart's new chief executive officer effective September 1st, 2025. David is very well prepared for his CEO responsibilities and I am looking forward to working with David in my role as executive chairman of our company.”
“I would also like to acknowledge Michael McCclary for his many years of dedicated service to our company, most recently as chief financial officer. With Michael's retirement, I welcome Alberto Hernandez as PriceSmart's new chief financial officer.”
“As always, I want to express my appreciation to our 12,000 employees for their dedication to PriceSmart. Finally, I want to thank our stockholders for their support and continuing confidence.”
“Of the up to $65 million of financing we've arranged, $15 million is a U.S. dollar loan that we will repay in Trinidad dollars, which gives us a direct path to address our Trinidad payables; the other $50 million is primarily in U.S. dollars and while some pieces are tied to Jamaican dollars, the liabilities are indexe...”
“We constantly evaluate the FX premium and will factor it into our calculations for next year; we'll do our best to make sure that does not impact member pricing, but that's a work in progress.”
“Regarding considerations for Chile, it has a strong middle class, good economics, solid trade and tax relations with the United States, and a very stable government; we believe it would be a more stable, developed market where PriceSmart could do well, although nothing is finalized and it remains a work in progress.”
“As we have previously announced, David Price will be PriceMart's new chief executive officer effective September 1st, 2025. I am looking forward to working with David in my role as executive chairman of our company.”
“I would also like to acknowledge Michael McCclary for his many years of dedicated service to our company, most recently as chief financial officer.”
“With Michael's retirement, I welcome Alberto Hernandez as PriceMart's new chief financial officer. Alberto comes well prepared for his new responsibilities with significant senior executive financial experience including working in the retail industry in South America.”
“As always, I want to express my appreciation to our 12,000 employees for their dedication to PriceMart. We are so proud of their many contributions to PriceMart's success, and finally I want to thank our stockholders for their support and continuing confidence.”
“I never intended to be in the business world — my father Saul Price started FedMart and I respected him, but business wasn't my interest initially.”
“When we opened our FedMart store in the Navajo reservation we priced merchandise the same as in Phoenix (absorbing extra freight), paid the same wages, there was no Arizona sales tax on tribal land, we hired Native Americans for nearly all roles except managers, and the store was extremely successful.”
“The idea I came up with was to run a distribution center and let independent small businesses run the stores — we would aggregate buying power and supply the merchandise more efficiently.”
“The membership fee — originally $25 a year — we thought of as part of gross margin so we could reduce the shelf price and pass on savings to members; as more people buy, the membership leverages lower prices.”
“We can't have low prices off the backs of our employees — we have to pay good wages and give good benefits; the goal is to be smarter in how we operate, not to exploit people.”
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El Podcast At The Club de PriceSmart debuta con una entrevista especial. Te invitamos a disfrutar del primer episodio de nuestra ...
If you wanna have it on Spotify: https://open.spotify.com/episode/4UoY4rieb... Also available at Spotify for earnings Calls at BusinessCalls Podcast: https://open.spotify.com/show/6XbIp7s9vH54... Thanks for watching!
07/11/2024 Q&A: 21:55 PriceSmart, Inc. owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry. It offers electronics, large and small appliances, automotive, hardware, sporting goods, seasonal products, clothing, domestics, and home furnishing products. In addition, the company offers food and bakery services, as we…
01/10/2024 Q&A: 19:36 PriceSmart, Inc. owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry. It offers electronics, large and small appliances, automotive, hardware, sporting goods, seasonal products, clothing, domestics, and home furnishing products. In addition, the company offers food and bakery services, as we…
07/11/2023 Q&A: 23:17 PriceSmart, Inc. owns and operates U.S. style membership shopping warehouse clubs in the United ...
Job Developer's Network San Diego meeting featuring Robert Price.
Chairman of the Board of PriceSmart, Mr. Robert Price, feature speaker at TTMA's President's Dinner and Excellence in ...
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