PriceSmart (PSMT) April Warehouse Clubs Comps Increase 1.9%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of April 2018 net sales increased 1.6% to $240.3 million from $236.6 million in April a year earlier. For the eight months ended April 30, 2018, net sales increased 5.0% to $2,063.6 million from $1,964.8 million for the eight months ended April 30, 2017. There were 40 warehouse clubs in operation at the end of April 2018 and 39 warehouse clubs in operation at the end of April 2017.

For the four-week period ended April 29, 2018 comparable sales for the 39 warehouse clubs open at least 13 1/2 full months increased 1.9%, compared to the four-week period last year. For the thirty-four week period ended April 29, 2018 comparable warehouse sales increased 2.7%, compared to the comparable thirty-four week period a year ago.

For the 8-week period ending April 29, 2018 comparable warehouse club sales for the 39 warehouse clubs open at least 13 1/2 months increased 2.7%. This 8-week view normalizes the effect of Easter which occurred in March this year and April last year.

PriceSmart, Inc. also announced that on May 3, 2018, the Company successfully opened a new warehouse club in Santo Domingo, Dominican Republic, bringing to 41 the total number of warehouse clubs in operation by the Company. This warehouse club is the Company's fourth warehouse club in the Dominican Republic.

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