PriceSmart (PSMT) August Comps Up 10%; Sales Rose 12.3%

PriceSmart, Inc. (Nasdaq: PSMT) today announced that for the month of August 2012 net sales increased 12.3% to $166.7 million, from $148.3 million in August a year earlier. For the twelve months ended August 31, 2012, net sales increased 19.4% to $2,000.0 million from $1,675.2 million for the twelve months ended August 31, 2011. There were 29 warehouse clubs in operation at the end of August 2012 and August 2011.

For the five weeks ended September 2, 2012, comparable warehouse sales for the 28 warehouse clubs open at least 13 1/2 full months increased 10.0%, compared to the same five-week period last year. For the fifty-two week period ended September 2, 2012, comparable warehouse sales increased 14.5%, compared to the same fifty-two week period a year ago.

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