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PriceSmart (PSMT) Comps Fell 3.7% in February

March 7, 2016 8:05 AM EST

PriceSmart, Inc. (NASDAQ: PSMT) announced that for the month of February 2016, net sales increased 4.1% to $213.5 million from $205.1 million in February a year earlier. For the six months ended February 29, 2016, net sales increased 5.9% to $1,449.8 million from $1,368.5 million in the same period last year. There were 38 warehouse clubs in operation at the end of February 2016 compared to 36 warehouse clubs in operation in February 2015.

For the five weeks ended February 28, 2016, comparable warehouse sales for the 36 warehouse clubs open at least 13 1/2 full months decreased 3.7% compared to the same five-week period last year. For the twenty-six-week period ended February 28, 2016, comparable warehouse sales increased 0.3% compared to the comparable twenty-six-week period a year ago.

Comparable warehouse sales were negatively impacted by the devaluation of the Colombian peso from the year ago period. Six warehouse clubs in Colombia are in the calculation for comparable warehouse sales. Excluding those warehouse clubs, the five-week and twenty-six-week comparable warehouse sales for the other 30 warehouse clubs open at least 13 1/2 full months increased 0.7% and 3.8%, respectively.

PriceSmart plans to release second quarter fiscal year 2016 financial results on Thursday, April 7, 2016. PriceSmart management plans to host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, April 8, 2016, to discuss the financial results.

Individuals interested in participating in the conference call may do so by dialing (877) 795-3610 for domestic callers or (719) 325-4776 for international callers, and entering participant code 1201714.

A digital replay will be available through April 30, 2016, following the conclusion of the call by dialing (888) 203-1112 for domestic callers, or (719) 457-0820 for international callers, and entering relay passcode 1201714.



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