PriceSmart 1Q Profit Slips Slightly Despite Higher Revenue

Dow Jones01-09 05:24

By Dean Seal

PriceSmart recorded higher merchandise sales in its fiscal first quarter and a slightly smaller profit as costs rose.

The operator of membership warehouse clubs in Central America, the Caribbean and Colombia posted a profit of $37.4 million for the three-months ended Nov. 30, compared with $38 million in the same period a year ago.

Earnings were $1.21 a share, 10 cents shy of the consensus estimate of analysts polled by FactSet.

Revenue rose 7.8% to $1.26 billion, topping analyst forecasts for $1.24 billion, according to FactSet.

Merchandise sales, which make up most of the company's top line, were up 5.7% on a comparable basis, with some negative impact from foreign currency translation.

The San Diego-based company said it had 54 warehouse clubs in operation at the end of the quarter, one more than it had a year ago.

Shares declined 2.6% to $91 in post-market trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 08, 2025 16:24 ET (21:24 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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