PSMT - Why PriceSmart Stock Was Up This Week
2023-04-14 08:40:00 ET
PriceSmart (NASDAQ: PSMT) shareholders beat the market this week as the stock gained 10% through Thursday trading. That's as compared to a 1% increase in the wider market, according to data provided by S&P Global Market Intelligence . The boost added to a good rally for the international warehouse club retailer's stock, which is up nearly 30% so far in 2023.
It was powered by a warm reception on Wall Street to PriceSmart's fiscal second-quarter earnings report.
PriceSmart said on Wednesday that comparable-store sales rose by a solid 9% for the selling period that ran through late February. This result marked an acceleration from the prior quarter's 5% boost and included both higher club sales and rising membership fees.
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Why PriceSmart Stock Was Up This Week