PriceSmart February Metrics Rise
PriceSmart has reported its February metrics. For the month, the Latin American retailer's sales came in at just under $165 million, an increase of 8% from the nearly $153 million the company posted in the same month in 2012.
Those figures are somewhat distorted by the fact that February 2012 had 29 days instead of the usual 28. Additionally, the company had 30 of its warehouse clubs open in the 2013 period, as opposed to 29 last February.
Comparable sales for those 29 outlets rose nearly 9% on a year-over-year basis in the five weeks ended March 3.
PriceSmart also announced that it had purchased around 21,000 square meters of property in Honduras, on which it aims to build its third warehouse club in the country. It anticipates this will open in spring 2014.
The firm is scheduled to unveil its Q2 2013 results on Tuesday, April 9.
The article PriceSmart February Metrics Rise originally appeared on Fool.com.Fool contributor Eric Volkman has no position in PriceSmart. The Motley Fool recommends PriceSmart. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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