San Diego-based PriceSmart Inc. announced net warehouse club sales of $675.3 million for the third quarter of the 2015 fiscal year, an increase of 13 percent from the like quarter in 2014.
PriceSmart owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. For the quarter ended May 31, total revenue was $697.1 million compared with $615 million in the like period of 2014.
According to PriceSmart, the company had 36 warehouse clubs in operation as of May 2015 compared with 33 warehouse clubs in operation as of May 2014.
The company recorded operating income during the third quarter of $33.5 million, as compared with operating income of $31.2 million in the like quarter of the prior year. Net income was $21.2 million, or $0.70 per diluted share, in the third quarter of fiscal year 2015 as compared with $21.3 million, or $0.70 per diluted share, in the third quarter of fiscal year 2014, PriceSmart said.
For the first nine months of fiscal year 2015, net warehouse club sales increased 10.8 percent to $2.04 billion from $1.8 billion in the first nine months of fiscal year 2014. In the first nine months of FY2015, PriceSmart had net income of $66.7 million compared with $71 million in the like period of the previous year.
The company also announced that for the month of June 2015, net warehouse club sales increased 11.8 percent to $217.2 million, from $194.3 million in June of 2014.
PriceSmart said that on June 25, 2015, it opened its warehouse club in Costa Verde, Panama, bringing to 37 the number of warehouse clubs in operation by the company. This warehouse club is the fifth warehouse club in Panama.