San Diego-based PriceSmart, Inc. announced Oct. 8 that for September, net merchandise sales increased 2.8 percent to $243.7 million from $237.1 million in September a year prior.
The number of warehouse clubs in operation rose from 39 to 41 year-over-year. When comparing revenue from 39 stores open at least 13 1/2 full months with the existing 39 stores a year ago, the revenue for the four weeks ending Sept. 30 decreased 1.7 percent, according to a press release.
PriceSmart owns and operates warehouse clubs in Latin America and the Caribbean. The company is currently developing clubs in Santiago, Panama, and Santo Domingo, Dominican Republic, expected to open spring 2019. A 44th warehouse club in San Cristobal, Guatemala, is scheduled for a fall 2019 opening.
PriceSmart plans to release fourth quarter fiscal year 2018 financial results on Oct. 25 after the market closes.