PriceSmart March Comparable Net Merchandise Sales Down 5.9%

(RTTNews) - PriceSmart Inc. (PSMT) reported that its comparable net merchandise sales for the 45 warehouse clubs open at least thirteen and half full months decreased 5.9% in the four weeks ended March 28, 2021 compared to the same period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.4%, or $4.1 million compared to the same period in the prior year.

Monthly net merchandise sales increased 0.5% to $307.6 million from $306.1 million in March a year earlier. Foreign currency exchange fluctuations impacted net merchandise sales negatively by 1.5%, or $4.4 million, compared to the same one-month period in the prior year.

There were 47 warehouse clubs in operation at the end of March 2021 and 45 warehouse clubs in operation at the end of March 2020.

For the thirty-week period ended March 28, 2021, comparable net merchandise sales increased 1.1% compared to the same thirty-week period a year ago. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 3.0% or $57.3 million versus the same prior year period.