PriceSmart (PSMT) Comps Fell 0.2% in November 2016
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PriceSmart, Inc. (Nasdaq: PSMT) announced that for the month of November 2016, net sales increased 2.0% to $245.8 million from $240.9 million in November a year earlier. For the three months ended November 30, 2016, net sales increased 3.7% to $716.1 million from $690.8 million in the same period last year. There were 39 warehouse clubs in operation at the end of November 2016 compared to 38 warehouse clubs in operation in November 2015.
For the five weeks ended December 4, 2016, comparable warehouse sales for the 37 warehouse clubs open at least 13 1/2 full months decreased 0.2% compared to the same five-week period last year. For the thirteen-week period ended December 4, 2016, comparable warehouse sales were equal to the thirteen-week period a year ago.
PriceSmart also announced that it plans to release first quarter fiscal year 2017 financial results on Thursday, January 5, 2017, after the market closes. PriceSmart management plans to host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, January 6, 2017, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (877) 675-4756 toll free, or (719) 325-4810 for international callers, and entering participant code 5691450. A digital replay will be available through January 31, 2017, 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 5691450.
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