Robert Price on employees

About Robert Price

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.

Profile compiled from Robert Price's verified public interviews and appearances. See all quotes & transcripts →