PriceSmart says key revenue figure rose 10 percent
SAN DIEGO (AP) — PriceSmart Inc. said Monday that a key revenue measurement grew 10 percent in September.
The company runs U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. Its total sales rose 14 percent to $167 million, and sales at warehouse clubs open for 13 ½ months rose 10 percent.
Sales at locations open at least a year are considered a key measurement of performance for retailers because they exclude results at stores that opened or closed in the last year. PriceSmart uses a measurement based on clubs that have been open for at least 13 ½ months. The company has 29 clubs, and 28 have been open for at least that long.
The company has five warehouse clubs in Costa Rica, four in Panama, four in Trinidad, and others in Guatemala, the Dominican Republic, El Salvador, Honduras, Aruba, Barbados, Colombia, Jamaica, Nicaragua, and the U.S. Virgin Islands. Its sales report covers the four weeks that ended Sept. 30.
Shares of PriceSmart gained 77 cents to $79.65 in morning trading.