PriceSmart, the San Diego-based warehouse club chain operating in Latin America and the Caribbean, reported that December’s merchandise sales increased almost 1 percent compared with the same month one year ago. The company made its announcement Jan. 9.
Part of the increase was due to the fact that PriceSmart (Nasdaq: PSMT) was selling out of more stores.
Net merchandise sales in December increased 0.9 percent to $347.1 million from $344.2 million in December 2017. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $11.6 million or 3.3 percent versus the same prior year one-month period.
The 41 warehouse clubs operating on Dec. 31 included the new location in Santo Domingo, Dominican Republic. It opened in May.
For the four weeks ended Dec. 30, comparable net merchandise sales for the 40 warehouse clubs open at least 13½ months increased 0.4 percent, compared to the same four-week period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $10.3 million or 3.3 percent versus the same prior year period.