PriceSmart Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2014; Reports Sales Results for the Month, Four Months and Seventeen-Week Period Ended December 28, 2014
January 09, 2015 at 02:30 am IST
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PriceSmart Inc. reported unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported total revenues of $656,021,000 against $605,601,000 a year ago. Operating income was $36,285,000 against $32,359,000 a year ago. Income before provision for income taxes and income of unconsolidated affiliates was $32,743,000 against $31,813,000 a year ago. Net income was $20,647,000 against $21,432,000 a year ago. Basic and diluted net income per share was $0.68 against $0.71 a year ago.
For the month of December 2014, net sales increased 9.6% to $307.8 million from $280.8 million in December a year earlier.
For the four months ended December 31, 2014, net sales increased 8.5% to $944.2 million from $870.5 million in the same period last year. There were 36 warehouse clubs in operation at the end of December 2014 compared to 32 warehouse clubs in operation in December 2013. For the four weeks ended December 28, 2014, comparable warehouse sales for the 31 warehouse clubs open at least 13 1/2 full months increased 0.3% compared to the same four-week period last year.
For the seventeen-week period ended December 28, 2014, comparable warehouse sales increased 1.5% compared to the comparable seventeen-week period a year ago.
PriceSmart, Inc. owns and operates United States (US)-style membership shopping warehouse clubs in Latin America and the Caribbean, selling merchandise and providing services to PriceSmart members. The Company operates approximately 52 warehouse clubs in 12 countries and one US territory. Its segments include the US, Central America, the Caribbean and Colombia. It offers merchandise and services in various categories, such as consumables, fresh foods, hardlines, food service and bakery, and health services. It also owns Member's Selection private label products. The Company's consumable products include groceries, cleaning supplies, and health and beauty aids. Its fresh food products include meat, produce, deli, seafood and poultry. The Company's hardline products include electronics, automotive, hardware, sporting goods, and seasonal products. Its softline products include clothing, domestics and home furnishing products. Its health services include optical, audiology and pharmacy.
PriceSmart Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2014; Reports Sales Results for the Month, Four Months and Seventeen-Week Period Ended December 28, 2014