PriceSmart Reports Sales IncreasesTuesday, October 11, 2011
PriceSmart Inc., the operator of warehouse retail stores in Latin America and the Caribbean regions, announced Oct. 7 that its September sales were $146.3 million, up 25.5 percent from the September 2010 sales.
San Diego-based PriceSmart added two new stores during the past 12 months to bring its total to 29 stores in 12 countries and one U.S. territory.
For the four weeks ended Oct. 2, comparable warehouse sales for the clubs open at least 13.5 months increased 18.9 percent versus the comparable four-week period last year, the company said.
The company plans to release its fourth-quarter and full fiscal year financial results Oct. 19.
Traded on Nasdaq under PSMT, shares closed up $2.36 to $72.93 on Oct. 10, and have ranged from $28.78 to $75.16 during the past 52 weeks.
— Mike Allen