PSMT - PriceSmart reports comparable net merchandise sales up 4.1% in October

PriceSmart (PSMT) reports October merchandise sales increased 10.4% Y/Y to $280.3M. Comparable merchandise sales up 4.1%.Foreign currency exchange fluctuations impacted merchandise sales negatively by 3.6%.Click & Go service, including curbside pickup and delivery, contributed ~3% of total net merchandise sales for the month.There were 46 warehouse clubs in operation at the end of October vs. 43 warehouse clubs in operation a year ago.Sherry S. Bahrambeygui, Chief Executive Officer, commented: "We continue to build on our strong start to fiscal year 2021 which is fueled by many of our new practices and improvements that we planned for and set into motion during the prior year and a half. We experienced continued growth in net merchandise sales and positive comparable sales in October even with 20 club days lost in the month. During the month, Panama, one of our largest markets, lifted their restrictions on the days clubs could be open, with no limitations at the end

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PriceSmart reports comparable net merchandise sales up 4.1% in October