PriceSmart (PSMT) Feb. Comps Increase 2.6%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of February 2017, net sales increased 0.5% to $214.6 million from $213.5 million in February a year earlier. February had 28 days in the current year compared to 29 days in 2016. For the six months ended February 28, 2017, net sales increased 2.7% to $1,488.4 million from $1,449.8 million in the same period last year. There were 39 warehouse clubs in operation at the end of February 2017 compared to 38 warehouse clubs in operation in February 2016.

For the five weeks ended March 5, 2017, comparable warehouse sales for the 38 warehouse clubs open at least 13 1/2 full months increased 2.6% compared to the same five-week period last year. For the twenty-six-week period ended March 5, 2017, comparable warehouse sales increased 1.1% compared to the comparable twenty-six-week period a year ago.

PriceSmart also announced that it plans to release second quarter fiscal year 2017 financial results on Thursday, April 6, 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, April 7, 2017, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (877) 870-4263 for domestic callers or (412) 317-0790 for international callers, and asking to join the PriceSmart, Inc. call. A digital replay will be available through April 14, 2017, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay access code 10102319.

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