PriceSmart (PSMT) Sept. Comps Increased 2.8%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of September 2017 net sales increased 3.8% to $237.2 million, from $228.4 million in September a year earlier. There were 39 warehouse clubs in operation at the end of September 2017 and 39 warehouse clubs in operation at the end of September 2016.

For the four weeks ended October 1, 2017, comparable warehouse sales for the 38 warehouse clubs open at least 13 1/2 full months increased 2.8%, compared to the same four-week period last year.

In the month of September, hurricanes Irma and Maria both hit St. Thomas, U.S.V.I. While our warehouse club did not sustain substantial damage, the devastating impact on the island resulted in 9 days of closure and an additional 16 days of reduced hours for our warehouse club during the month.

The Company also announced that on October 5, 2017, the Company successfully opened its new warehouse club in Santa Ana, Costa Rica, bringing to 40 the total number of warehouse clubs in operation by the Company. This warehouse club is the Company's seventh warehouse club in Costa Rica.

PriceSmart plans to release fourth quarter fiscal year 2017 financial results on Thursday, October 26, 2017, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00a.m. Pacific time) on Friday, October 27, 2017, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free, or (412) 317-5214 for international callers and asking to join the PriceSmart, Inc. call. A digital replay will be available through November 3, 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 passcode 10112016.

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