Pricemart, which operates US-style membership warehouse clubs in Central America and the Caribbean, reported monthly sales results for June today. Net sales increased 4.0% to $95.7 Million, while same-store sales were up 1.4% YoY on top of a 20.0% gain in the year-ago period. Though they are still outperforming their peers, having yet to report negative same-store sales throughout the recession, growth has slowed considerably over the past year.
The company has momentum on its side, as they have reduced debt, worked out operational issues, and have been able to significantly grow the bottom line over the past few years. With only 26 warehouse clubs currently in operation in a geographic area that is still in its infancy, there is certainly room for future growth. They have been fairly immune to weak economic conditions so far, and the next few months should be telling as to whether they can keep up the strong performance.
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