PriceSmart (PSMT) Comps Rose 2.3% in August

PriceSmart (Nasdaq: PSMT) announced that for the month of August 2014 net sales increased 7.3% to $206.7 million, from $192.6 million in August a year earlier. For the twelve months ended August 31, 2014, net sales increased 9.2% to $2,444.3 million from $2,239.3 million for the twelve months ended August 31, 2013. There were 33 warehouse clubs in operation at the end of August 2014 and 31 warehouse clubs in operation at the end of August 2013.

For the five weeks ended August 31, 2014, comparable warehouse sales for the 31 warehouse clubs open at least 13 1/2 full months increased 2.3%, compared to the same five-week period last year. For the fifty-two week period ended August 31, 2014, comparable warehouse sales increased 4.8%, compared to the same fifty-two week period a year ago.

PriceSmart also announced the planned opening dates for the three warehouse clubs currently under construction in Colombia. The Bogota warehouse club is planned to open on October 29, 2014; the Pereira warehouse club is planned to open on November 13, 2014; and the Medellin warehouse club is planned to open on November 26, 2014.

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