Pricesmart (PSMT) Comps Rose 8.9% in February; Makes Acquisitions

Pricesmart, Inc. (NASDAQ: PSMT) announced that for the month of February 2013, net sales increased 7.8% to $164.7 million from $152.8 million in February a year earlier. February had 28 days in the current year compared to 29 days in 2012. For the six months ended February 28, 2013, net sales increased 10.9% to $1,115.5 million from $1,005.8 million in the same period last year. There were 30 warehouse clubs in operation at the end of February 2013 compared to 29 warehouse clubs in operation in February 2012.

For the five weeks ended March 3, 2013, comparable warehouse sales for the 29 warehouse clubs open at least 13 1/2 full months increased 8.9% compared to the same five-week period last year. For the twenty-six-week period ended March 3, 2013, comparable warehouse sales increased 8.8% compared to the comparable twenty-six-week period a year ago.

The Company also announced that in February it acquired approximately 21,200 square meters of land located in southern Tegucigalpa, Honduras, upon which PriceSmart plans to construct its third Membership Warehouse Club in Honduras. PriceSmart currently anticipates opening the southern Tegucigalpa club in the spring of 2014. PriceSmart entered the Honduras market thirteen years ago and is currently operating two PriceSmart Membership Warehouse Clubs in Honduras, pending the opening of this planned third Club.

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