PriceSmart Inc. said its net sales rose 3.3 percent in January compared with last year, despite foreign currency devaluations harming sales at it Colombian stores.
Net sales were $226.4 million last month across PriceSmart’s 38 warehouse clubs.
But that figure was bolstered by the addition of several stores over the past year. Sales dropped 0.3 percent among the 35 clubs open more than 13 months in January.
PriceSmart said the dip was mostly due to devaluation of the Colombian peso driving down sales in its five Colombian stores. Excluding those locations, comparable January sales rose 4.1 percent.