NEW YORK, NY / ACCESSWIRE / April 9, 2020 / PriceSmart, Inc. (NASDAQ:PSMT) will be discussing their earnings results in their 2020 Second Quarter Earnings call to be held on April 9, 2020 at 12:00 PM Eastern ...

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of March 2020 net merchandise sales increased 17.1% to $306.1 million from $261.5 million in March a year earlier. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $7.7 million or 2.5% versus the same one-month period in the prior year. There were 45 warehouse clubs in operation at the end of March 2020 and 41 warehouse clubs in operation at the end of March 2019.

PriceSmart (PSMT) expects traffic and sales to remain soft in the coming few months, thanks to the pandemic and related restrictions on business activities.

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PriceSmart's (PSMT) dismal top-line performance in April stems from the ill impact of coronavirus, which resulted in lower traffic at the company's warehouse clubs.

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PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of April 2020 net merchandise sales decreased 10.9% to $216.0 million from $242.5 million in April a year earlier. Foreign currency exchange fluctuations impacted net merchandise sales negatively by $5.5 million or 2.2% versus the same one-month period in the prior year. There were 45 warehouse clubs in operation at the end of April 2020 and 41 warehouse clubs in operation at the end of April 2019.

The earnings season begins amidst coronavirus pandemic so investors and traders should expect plenty of volatility

PriceSmart, Inc. (NASDAQ: PSMT) today announced that it plans to move forward with opening what will be its 46th warehouse club on June 17, 2020 in Liberia, Costa Rica.

Could PriceSmart, Inc. (NASDAQ:PSMT) be an attractive dividend share to own for the long haul? Investors are often...

Q1 2020 PriceSmart Inc Earnings Call

Warehouse club operator PriceSmart Inc. said Tuesday net merchandise sales rose 17.1% in March to $306.1 million, up from $261.5 million in the year-earlier period. Same-store sales rose 15.7%, the San Diego, Calif.-based company said in a statement. Like other retailers, the company felt the effect of the coronavirus pandemic. "Although overall sales for the month of March 2020 increased significantly, driven by members stocking up primarily on food and essentials ahead of potential 'shelter in place' advisories, sales moderated and later decreased in the second half of the month," the companmy said. "Toward the end of March, we experienced a noticeable reduction in traffic that we believe was driven by restrictive government mandates and consumer concerns about potential exposure." The company is expecting the virus to adversely affect traffic and sales for the next few months. PriceSmart is drawing down credit facilities and delaying spending on certain projects, as it works to conserve cash. The company still expects to complete the construction of a club in Liberia, Costa Rica in May but will postpone its opening. It will not move ahead for now with projects planned for Colombia and Jamaica. The company named interim Chief Financial Officer Michael McCleary permanet CFO. Shares were not active premarket but have fallen 19% in the year to date, while the S&P 500 has fallen 18%.

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PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of February 2020, net merchandise sales increased 11.7% to $255.5 million from $228.8 million in February a year earlier. The extra day from leap year, Saturday, February 29, impacted net merchandise sales favorably versus the same one-month period in the prior year. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $1.6 million or 0.6% versus the same one-month period in the prior year. There were 45 warehouse clubs in operation at the end of February 2020 and 41 warehouse clubs in operation at the end of February 2019.

PriceSmart rallies on earnings beat Continue reading...

PriceSmart (PSMT) announces that it is going to open its 46th warehouse club in Liberia, Costa Rica on Jun 17.

PriceSmart, Inc. (NASDAQ: PSMT), operator of 45 warehouse clubs in 12 countries and one U.S. territory, today announced its results of operations for the second quarter of fiscal year 2020 which ended on February 29, 2020.

Q2 2020 PriceSmart Inc Earnings Call