PriceSmart reported an increase of 12.3% in net sales to $159.1 million and an 8.6% increase in same-store sales for April, on top of a 21.5% increase in the year ago period. This was the 30th straight monthly increase but the first month in two years that didn’t show a double-digit comparable sales gain. For the 34-week fiscal year-to-date period, total sales increased 21.8% to $1.338 billion and comparable warehouse sales rose 16.5%. The economies in many of the countries where PriceSmart operates have shown continued improvement from the economic downturn experienced in calendar year 2009 and early calendar year 2010. Consumer spending has increased and local currencies in several of the Company’s larger markets have strengthened against the U.S. dollar over the past 12 months, conditions that have contributed to a positive environment for sales growth in many of the warehouse clubs in the current calendar year.
