PriceSmart Inc. said its net warehouse club sales increased 7.9 percent to $636.4 million for the first quarter of fiscal 2015 which ended November 30, 2014, compared with $589.7 million in the first quarter of fiscal year 2014.
Total revenues for the San Diego-based company’s first quarter were $656 million compared with $605.6 million in the first quarter of the prior year
PriceSmart had 36 clubs in operation at the end of the first quarter compared with 32 in operation at the end of the first quarter of 2014.
Net income was $20.6 million, or $0.68 per diluted share, in the first quarter of fiscal year 2015. Net income in the first quarter of fiscal year 2014 was $21.4 million, or $0.71 per diluted share.
The Company recorded operating income for the first quarter of $36.3 million, compared with operating income of $32.4 million for the first quarter of the prior year.
For the month of December 2014, net sales increased 9.6 percent to $307.8 million from $280.8 million in December a year earlier.
For the four months ended December 31, 2014, net sales increased 8.5 percent to $944.2 million from $870.5 million in the like period the previous year, according to the company.
PriceSmart, headquartered in San Diego, owns and operates membership shopping warehouse clubs in Latin America and the Caribbean.
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