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PriceSmart Reveals 3.2% Increase in September Comp Sales

Retail warehouse stores operator, PriceSmart, Inc.PSMT revealed its Sep 2015 sales. Net warehouse club sales for September 2015 grew 12.4% year over year to $216.5 million.

Further, PriceSmart reported 3.2% growth in comps for 33 warehouse clubs for the four weeks ended Sep 27, 2015. September comps were sequentially better than 3% in August, but lower than 3.5% in July, 4% in June and 4.6% in May.

PriceSmart has been facing a challenging scenario in some of the markets where it operated, which is hurting its sales and comps. Since Colombia and Costa Rica are two of the company's largest markets, unfavorable translations of the Colombian peso and the Costa Rican colon and overall economic softness in these markets are hurting the company's sales.

Headquartered in San Diego, PriceSmart is involved in the operation of membership shopping warehouses in international markets. The company has warehouse clubs and local distribution centers in 12 countries and 1 U.S. territory that are located in Latin America and the Caribbean. It had 37 warehouse clubs in operation at the end of Sep 2015. The company's operating segments includes the United States, Central America, the Caribbean and Colombia.

The Zacks Rank #3 (Hold) company has also maintained its plans to release fourth-quarter fiscal 2015 results on Oct 29, 2015 after the market closes.

Stocks to Consider

Some better-ranked stocks in the retail sector are Target Corp. TGT , Big Lots Inc. BIG and Burlington Stores, Inc. BURL . All three companies carry a Zacks Rank #2 (Buy).

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PRICESMART INC (PSMT): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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