PriceSmart Q2 Profit Up

(RTTNews) - PriceSmart Inc. (PSMT), operator of warehouse clubs, Tuesday reported second-quarter profit of $23.8 million or $0.79 per share, up from $14.1 million or $0.47 per share last year.

Total revenues for the second quarter increased 1.8% to $854.4 million from $839.6 million a year ago.

The company had 41 clubs in operation as of February 28, 2019, compared to 40 warehouse clubs in operation as of February 28, 2018.

Comparable net merchandise sales, for warehouse clubs that have been open for greater than 13 1/2 calendar months, decreased 0.9% for the 13-week period ended March 3, 2019 compared to the same period in the prior year.