By Kelly Cloonan
PriceSmart logged higher revenue and profit in its fiscal second quarter as merchandise sales rose.
The operator of membership warehouse clubs in Central America, the Caribbean and Colombia posted a profit of $43.8 million for the three-months ended Feb. 28, compared with $39.3 million a year earlier.
Earnings were $1.45 a share, slightly below the $1.44 expected by analysts polled by FactSet.
Revenue rose 6% to $1.36 billion compared with $1.29 billion a year ago.
Merchandise sales, which make up the majority of the company's top line, rose 7% on a comparable basis, with an increased negative impact from foreign exchange rate fluctuations from a year ago, the company said.
The San Diego-based company said it had 54 warehouse clubs in operation at the end of the quarter, the same as a year ago.
The company opened another warehouse club in Costa Rica this month, bringing its total warehouse club count to 55.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 09, 2025 16:30 ET (20:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.