PriceSmart, Inc. Announces Sales Results for the Month and Four Months Ended December 31, 2017
January 05, 2018 at 08:00 am
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PriceSmart, Inc. announced sales results for the month and four months ended December 31, 2017. For the month of December 2017, net sales increased 4.9% to $344.2 million from $328.2 million in December a year earlier. For the four weeks ended December 31, 2017, comparable warehouse sales for the 39 warehouse clubs open at least 13 1/2 full months increased 6.4% compared to the same four-week period last year.
For the four months ended December 31, 2017, net sales increased 4.3% to $1,089.6 million from $1,044.3 million in the same period last year. There were 40 warehouse clubs in operation at the end of December 2017, compared to 39 warehouse clubs in operation in December 2016. For the seventeen-week period ended December 31, 2017, comparable warehouse sales increased 3.4% compared to the comparable seventeen-week period a year ago. Comparable warehouse sales in the current period benefitted from one additional day of sales compared to the four-week period last year, which ended on January 1, 2017, a day when all of the Company's warehouse clubs were closed. The company estimates that this positively impacted the current four and seventeen week comparable warehouse sales increase by 240 basis points and 70 basis points, respectively.
PriceSmart, Inc. owns and operates United States (US)-style membership shopping warehouse clubs in Latin America and the Caribbean, selling merchandise and providing services to PriceSmart members. The Company operates approximately 52 warehouse clubs in 12 countries and one US territory. Its segments include the US, Central America, the Caribbean and Colombia. It offers merchandise and services in various categories, such as consumables, fresh foods, hardlines, food service and bakery, and health services. It also owns Member's Selection private label products. The Company's consumable products include groceries, cleaning supplies, and health and beauty aids. Its fresh food products include meat, produce, deli, seafood and poultry. The Company's hardline products include electronics, automotive, hardware, sporting goods, and seasonal products. Its softline products include clothing, domestics and home furnishing products. Its health services include optical, audiology and pharmacy.