PriceSmart (PSMT) Oct. Comps Declined 1.3%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of October 2018, net merchandise sales decreased 0.8% to $244.9 million from $246.8 million in October a year earlier. Fiscal year to date, which includes the two months ended October 31, 2018, net merchandise sales increased 1.0% to $488.5 million from $483.9 million for the two months ended October 31, 2017. There were 41 warehouse clubs in operation at the end of October 2018 and 40 warehouse clubs in operation at the end of October 2017.

For the four weeks ended October 28, 2018, comparable merchandise sales for the 39 warehouse clubs open at least 13 1/2 full months decreased 1.3%, compared to the same four-week period last year. For the eight-week period ended October 28, 2018, comparable merchandise sales decreased 1.5%, compared to the same eight-week period a year ago.

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