Corporate News Blog - PriceSmart Announces New Warehouse Club and September Sales Figures

Research Desk Line-up: Costco Wholesale Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for PriceSmart, Inc. (NASDAQ: PSMT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PSMT. The Company announced on October 06, 2017, its sales figures for the month of September 2017, which were to the tune of $237.2 million; an increase of 3.8% compared to sales figures for the month of September 2016 of $228.4 million. The number of warehouses at the end of September 2017 was 39; the same as the number reported at the end last year's comparable month. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Discount, Variety Stores industry. Pro-TD has currently selected Costco Wholesale Corporation (NASDAQ: COST) for due-diligence and potential coverage as the Company announced on October 05, 2017, its operating results for Q4 FY17 and FY17 which ended on September 03, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Costco Wholesale when we publish it.

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PriceSmart stated that the month of September 2017 was marked by nine days of business closure with an additional 16 hours of reduced hours for the warehouse club owing to Hurricanes Irma and Maria, both of which hit St. Thomas, US Virgin Islands. No substantial damage was sustained.

For the month of August 2017, PriceSmart had net sales of $238.3 million, growing 4% on a y-o-y basis. Similarly, PriceSmart's net sales were $242.5 million for the month of July 2017; a 2.7% increase on a y-o-y basis.

For the four weeks ended October 01, 2017, comparable warehouse sales for the 38 warehouse clubs open for at least 13 1/2 full months increased 2.8% compared to the same four-week period of last year.

New Warehouse

PriceSmart also opened a new warehouse club in Santa Ana, Costa Rica, on October 05, 2017, bringing the total number of warehouses to 40, with this being the seventh in Costa Rica.

The Company is expected to come out with the quarterly results on October 26, 2017.

Retail Industry Overview

PriceSmart's main competitors are US giant Wal-Mart Stores, Inc., French retailer CARREFOUR, and Iga, Inc.

These retail Companies contribute two-thirds to the US gross domestic product and store closings and openings are strong indicators of the mood in the economy. 2016 was marred by a large number of store closings and bankruptcies which indicated a slow economy and shifting consumer preferences.

According to a report from eMarketer.com, total retail sales globally touched $22 trillion in 2014, with total retail sales touching $24 trillion for 2015. According to the 2015 Global Powers of Retailing report, 76 of the largest retailing companies in the world are based in the US.

About PriceSmart

PriceSmart is headquartered in San Diego with operations in Latin America and the Caribbean. The Company sells high quality merchandise at low prices to its members and operates 40 warehouse clubs in 12 countries and in one US territory - seven warehouse clubs each in Colombia and Costa Rica; five in Panama; four in Trinidad; three each in Guatemala, the Dominican Republic, and Honduras; two each in EL Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica, and the United States Virgin Island.

Last Close Stock Review

At the closing bell, on Monday, October 09, 2017, PriceSmart's stock dropped 1.45%, ending the trading session at $88.20. A total volume of 101.42 thousand shares have exchanged hands. The Company's stock price surged 8.02% in the last three months, 2.08% in the past six months, and 2.62% in the previous twelve months. Moreover, the stock gained 5.63% since the start of the year. The stock is trading at a PE ratio of 28.85 and has a dividend yield of 0.79%. The stock currently has a market cap of $2.67 billion.

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SOURCE: Pro-Trader Daily