PriceSmart (PSMT) Oct. Comps Increase 1%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of October 2017, net warehouse club sales increased 2.0% to $246.8 million from $241.9 million in October a year earlier. For the two months ended October 31, 2017, net warehouse club sales increased 2.9% to $483.9 million from $470.3 million for the two months ended October 31, 2016. There were 40 warehouse clubs in operation at the end of October 2017 and 39 warehouse clubs in operation at the end of October 2016.

For the four weeks ended October 29, 2017, comparable warehouse sales for the 38 warehouse clubs open at least 13 1/2 full months increased 1.0%, compared to the same four-week period last year. For the eight-week period ended October 29, 2017, comparable warehouse sales increased 1.9%, compared to the same eight-week period a year ago.

As expected, the opening of the Santa Ana, Costa Rica warehouse club had a negative impact our reported comparable warehouse club sales. For the current four week period, we estimate that impact to be 110 basis points.

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