PriceSmart Announces Same Store Sales Increased 20.7%
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PriceSmart (NASDAQ: PSMT) announced that for the month of May 2008, net sales increased 31.0% to $94.9 million from $72.4 million in May a year earlier. There were 25 warehouse clubs in operation at the end of May 2008 compared to 23 warehouse clubs in operation in May 2007.
For the five weeks ended June 1, 2008, comparable warehouse sales for warehouse clubs open at least 12 full months increased 20.7% compared to the same five-week period last year. For the thirty-nine week period ended June 1, 2008, comparable warehouse sales increased 20.3% compared to the comparable thirty-nine week period a year ago.
PriceSmart owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members.
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