PriceSmart (PSMT) Jan. Comps Fell 0.3%

PriceSmart, Inc. (Nasdaq: PSMT) announced that for the month of January 2016, net sales increased 3.3% to $226.4 million from $219.2 million in January a year earlier. For the five months ended January 31, 2016, net sales increased 6.3% to $1,236.3 million from $1,163.4 million in the same period last year. There were 38 warehouse clubs in operation at the end of January 2016 compared to 36 warehouse clubs in operation in January 2015.

For the four weeks ended January 31, 2016, comparable warehouse sales for the 35 warehouse clubs open at least 13 1/2 full months decreased 0.3% compared to the same four-week period last year. For the twenty-one-week period ended January 31, 2016, comparable warehouse sales increased 1.2% compared to the comparable twenty-one-week period a year ago.

Comparable warehouse sales were negatively impacted by the devaluation of the Colombian peso from the year ago period. Five warehouse clubs in Colombia are in the calculation for comparable warehouse sales. Excluding those warehouse clubs, the four-week and twenty-one-week comparable warehouse sales for the other 30 warehouse clubs open at least 13 1/2 full months increased 4.1% and 4.5%, respectively.

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