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PriceSmart May Comps Jump 9.8%

Latin American warehouse club operator PriceSmart (NASDAQ: PSMT  ) announced yesterday that same-store sales for the five-week period ending June 2 jumped 9.8% over the same time frame in 2012.

PriceSmart said net sales for May rose 14.8% to $187.5 million from $163.3 million in the year-ago period, with 31 warehouse clubs in operation at the end of the month. During the 39-week period ending June 2, the chain had 29 warehouse clubs open for 13 and a half full months and saw comps rise 8.9% compared with last year.

Headquartered in San Diego, PriceSmart had $2.17 billion in revenues in the trailing-12-month period ending Feb. 28, and it announced that it will report its fiscal third-quarter 2013 results on July 10 after the markets close, with a conference call to follow on July 11.

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9/30/2016 4:00 PM
PSMT $83.76 Up +2.66 +3.28%
PriceSmart CAPS Rating: ***