PriceSmart Nov. Net Sales Up 1.6%; Comparable Warehouse Sales Down 0.5%

(RTTNews) - PriceSmart Inc. (PSMT) said that net sales for the month of November 2015 increased 1.6% to $240.9 million from $237.3 million in November a year earlier. For the five weeks ended November 29, 2015, comparable warehouse sales for the 33 warehouse clubs open at least 13 1/2 full months decreased 0.5% compared to the same five-week period last year.

For the three months ended November 30, 2015, net sales increased 8.5% to $690.8 million from $636.5 million in the same period last year.

For the thirteen-week period ended November 29, 2015, comparable warehouse sales increased 1.7% compared to the comparable thirteen-week period a year ago.

Comparable warehouse sales were negatively impacted by the devaluation of the Colombian peso from the year ago period. Three warehouse clubs in Colombia are in the calculation for comparable warehouse sales.

Excluding those warehouse clubs, the five-week and thirteen-week comparable warehouse sales for the other 30 warehouse clubs open at least 13 1/2 full months increased 2.2% and 5.0%, respectively.

There were 38 warehouse clubs in operation at the end of November 2015 compared to 36 warehouse clubs in operation in November 2014.

PriceSmart also announced that it plans to release first quarter fiscal year 2016 financial results on Thursday, January 7, 2016, after the market closes.