Have a look at News Release: PriceSmart, Inc. (NASDAQ: PSMT)
On Wednesday, PriceSmart, Inc. (NASDAQ: PSMT) stock recorded daily change of -1.09% to close at $66.45 with the total traded volume of 145091 shares along average volume of 131723 shares. 52-week range of the stock remained $ 41.15 - 79.9 while its day low price was $66.33 and its hit its day high price at […]
On Wednesday, PriceSmart, Inc. (NASDAQ: PSMT) stock recorded daily change of -1.09% to close at $66.45 with the total traded volume of 145091 shares along average volume of 131723 shares. 52-week range of the stock remained $ 41.15 - 79.9 while its day low price was $66.33 and its hit its day high price at $67.85. Its previous closing value stands at $67.18. PSMT total market capitalization is $2.01B. PriceSmart, Inc. (PSMT) recently reported that for the month of August 2020 net merchandise sales increased 0.9% to $262.4M from $260.0M in August a year earlier. Foreign currency exchange fluctuations influenced net merchandise sales negatively by 3.9%, or $10.1M versus the same one-month period in the previous year. There were 46 warehouse clubs in operation at the end of August 2020 and 43 warehouse clubs in operation at the end of August 2019. "August marked the fourth month of sequential improvement in net merchandise sales. Because of the COVID-19 pandemic, our sales continue to be adversely influenced by important shopping limitations imposed by local governments in many of our markets.  These limitations vary by market, require close monitoring and we believe are generally more restrictive than what is being experienced by retailers of essential goods in the United States. We are making what we believe are the appropriate investments to continue to develop innovative ways to better and more safely serve our Members and protect our employees. Our Click & Go™ service, including curbside pickup and delivery, contributed about 4.0% of total net merchandise sales for the month of August 2020. Curbside pickup is accessible in all markets and delivery has expanded to six markets, up from four last month. As sales generated from these new channels are building in size and scope, we continue to focus on increasing efficiencies, consistent with our Six Rights, in order to provide the best possible value and experience for our Members. The Caribbean market was again the best performing section, but gains there were offset by negative comparable sales in some markets in Central America and in Colombia. We are happy with the performance of our new clubs in Guatemala and Panama, but, as predictable, new clubs in existing markets put pressure on comparable store sales Because of sales transfers from existing clubs. Additionally, we estimate that in August we lost about 90 club days to closures in markets where in-club shopping was not permitted as a result of the rise in COVID cases. This metric does not take into account the additional impact on through-put from government-mandated reductions in hours or limits on the days or times consumers are allowed to shop. Our team deserves recognition for the rapid development, deployment and expansion of our Click & Go service and ongoing innovation to enhance the Member experience. We extend our heart-felt gratitude to our front line workers who we continually strive to keep as safe as possible while they do the important work of taking care of our Members." Fiscal year to date, which includes the twelve months ended August 31, 2020, net merchandise sales increased 3.2% to $3,191.8M from $3,091.6M for the twelve months ended August 31, 2019. Foreign currency exchange rate fluctuations influenced net merchandise sales negatively by 2.1% or $61.9M versus the same twelve-month period in the previous year. For the 52-week period ended August 30, 2020, comparable net merchandise sales reduced 1.5% contrast to the same 52-week period a year ago. Foreign currency exchange rate fluctuations influenced comparable net merchandise sales negatively by 1.9% or $59.3M versus the same previous year period. Fourth Quarter 2020 Earnings Announcement Details: PriceSmart plans to release fourth quarter and full year 2020 financial results on Thursday, October 29, 2020, after the market closes. PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, October 30, 2020, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free, or (412) 317-5214 for international callers, and asking to join the PriceSmart, Inc. call. A digital replay will be accessible through November 6, 2020, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay passcode 10147692. PSMT has a gross margin of 16.60% and an operating margin of 3.80% while its profit margin remained 2.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained -15.60% for this year while earning per share for the next 5-years is expected to reach at 15.00%.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!