Shares of PriceSmart (PSMT) Continue to Fall on Dissapointing Q1 Results, Reports 23% Increase in December Sales
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Shares of PriceSmart, Inc. (NASDAQ: PSMT) are trading down 3.97 percent today after the company announced net sales increased 22.7 percent to $227.5 million for the month of December 2011 from $185.4 million in December of 2010.
For the four months ended December 31, 2011, net sales increased 23.6 percent 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.
Management also reported 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.
For the four months ended December 31, 2011, net sales increased 23.6 percent 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.
Management also reported 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.
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