PriceSmart – December net sales increased 22.7%

PriceSmart, Inc. (NASDAQ: PSMT) announced that for the month of December 2011, net sales increased 22.7% to $227.5 million from $185.4 million in December a year earlier.  For the four months ended December 31, 2011, net sales increased 23.6% to $695.8 million from $562.8 million in the same period last year.  There were 29 warehouse clubs in operation at the end of December 2011 compared to 28 warehouse clubs in operation in December 2010.

For the four weeks ended January 1, 2012, comparable warehouse sales for the 27 warehouse clubs open at least 13 1/2 full months increased 19.9% compared to the same four-week period last year.  For the seventeen-week period ended January 1, 2011, comparable warehouse sales increased 19.1% compared to the comparable seventeen-week period a year ago.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 29 warehouse clubs in 12 countries and one U.S. territory (five in Costa Rica; four each in Panama and Trinidad; three each in Guatemala and Dominican Republic; two each in El Salvador and Honduras; and one each in Aruba, Barbados, Colombia, Jamaica, Nicaragua and the United States Virgin Islands).

PriceSmart, Inc. business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. As of August 31, 2010, the total number of warehouse clubs in operation was 27 operating in 11 countries and one the United States territory, in comparison to 26 warehouse clubs operating in 11 countries and one the United States territory as of August 31, 2009. In addition to the warehouse clubs operated directly by the Company there is one warehouse club in operation in Saipan, Micronesia licensed to and operated by local business people, from which the Company earns a small royalty fee. The Company completed construction of a new Panama warehouse club (Brisas) in April 2010. The Company completed construction of a new warehouse club in Trinidad (San Fernando) in April 2010, bringing the number of warehouse clubs in Trinidad to four.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.