PriceSmart (PSMT) Announces November Comps Decline 2.8%

PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of November 2018, net merchandise sales decreased 1.0% to $258.9 million from $261.5 million in November a year earlier. For the three months ended November 30, 2018, net sales increased 0.3% to $747.4 million from $745.4 million in the same period last year. There were 41 warehouse clubs in operation at the end of November 2018 compared to 40 warehouse clubs in operation in November 2017.

For the five weeks ended December 2, 2018, comparable warehouse sales for the 40 warehouse clubs open at least 13 ½ full months decreased 2.8% compared to the same five-week period last year. For the thirteen-week period ended December 2, 2018, comparable warehouse sales decreased 2.1% compared to the thirteen-week period a year ago.

PriceSmart also announced that it plans to release first quarter fiscal year 2019 financial results on Wednesday, January 9, 2019, after the market closes. PriceSmart management plans to host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Thursday, January 10, 2019, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free, or (412) 317-5214 for international callers, and ask to join the PriceSmart, Inc. earnings call. A digital replay will be available through January 17, 2019, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay access code 10126894.

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