PriceSmart Q3 Profit Declines Slightly

(RTTNews) - PriceSmart, Inc. (PSMT) reported net income for the third quarter of $21.2 million or $0.70 per share, compared to $21.3 million or $0.70 per share for the year-ago quarter.

Total revenues for the third quarter rose to $697.1 million from $615.0 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.72 per share on revenue of $687.62 million for the third quarter.

Net warehouse club sales increased 13% to $675.3 million in the third quarter from $597.9 million in the third quarter of fiscal year 2014.

The company also said that for the month of June 2015, net warehouse club sales increased 11.8% to $217.2 million, from $194.3 million in June a year earlier. For the four weeks ended June 28, 2015, comparable warehouse sales for the 32 warehouse clubs open at least 13 1/2 full months increased 4.0%, compared to the same four-week period last year.