PriceSmart, Inc. (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart. The warehouse clubs sell basic high quality consumer goods at low prices to individuals and businesses. The Company ships its United States and other internationally sourced merchandise directly to its warehouse clubs or to the Company's consolidation points (distribution centers). On March 15, 2012, the Company acquired land in north Cali, Colombia.