PriceSmart's net sales up 22.7% year-over-year to US$227.5M in December; same-store sales up 19.9% for the four-week period ended Jan. 1
SAN DIEGO, California
January 9, 2012
PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of December 2011, net sales increased 22.7% to $227.5 million from $185.4 million in December a year earlier. For the four months ended December 31, 2011, net sales increased 23.6% to $695.8 million from $562.8 million in the same period last year. There were 29 warehouse clubs in operation at the end of December 2011 compared to 28 warehouse clubs in operation in December 2010.
For the four weeks ended January 1, 2012, comparable warehouse sales for the 27 warehouse clubs open at least 13 1/2 full months increased 19.9% compared to the same four-week period last year. For the seventeen-week period ended January 1, 2011, comparable warehouse sales increased 19.1% compared to the comparable seventeen-week period a year ago.
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 29 warehouse clubs in 12 countries and one U.S. territory (five in Costa Rica; four each in Panama and Trinidad; three each in Guatemala and Dominican Republic; two each in El Salvador and Honduras; and one each in Aruba, Barbados, Colombia, Jamaica, Nicaragua and the United States Virgin Islands).