PriceSmart (PSMT) May Comps Rose 9.8%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of May 2013, net sales increased 14.8% to $187.5 million from $163.3 million in May a year earlier. For the nine months ended May 31, 2013, net sales increased 11.4% to $1,671.3 million from $1,500.6 million for the nine months ended May 31, 2012. There were 31 warehouse clubs in operation at the end of May 2013 and 29 warehouse clubs in operation at the end of May 2012.

For the five-week period ended June 2, 2013, comparable sales for the 29 warehouse clubs open at least 13 1/2 full months increased 9.8%, compared to the same five-week period last year. For the thirty-nine week period ended June 2, 2013, comparable warehouse sales increased 8.9%, compared to the comparable thirty-nine week period a year ago.

PriceSmart plans to release third quarter 2013 financial results on Wednesday, July 10, 2013, after the market closes.

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