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PriceSmart Inc. Message Board

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  • Reply to

    Trend is definitely down

    by fajardojuan30 Feb 1, 2014 8:45 AM

    cdgingrich2001 did you say that I was screwed?? I have made so much money shorting this POS it is just pathetic how easy it is. I think that now is close to real value so I only short when it has a god day. But I am not long in this stock

  • Reply to

    Earnings call

    by pileatedwp1953 Apr 10, 2014 5:07 PM

    Thanks for the informative reply. I do remember from the conference call that this was discussed. I didn't think to apply it to the results this month. I am definitely long this stock and appreciate your comments.

  • Reply to

    Earnings call

    by pileatedwp1953 Apr 10, 2014 5:07 PM

    I don’t think it’s that bad. It’s up 10% YoY and they have only opened two new stores both of which were in cities with existing stores.

    The two new stores that opened (Cali North, Colombia, and La Union, Cartago, Costa Rica) are reducing same store sales comparisons. As the new store adds to overall revenue some of that gain is a loss from existing stores. The latest store (Tegucigalpa, Honduras (May 2014)) will do the same.

    If you look at same store sales as a ratio of overall revenue change it has been over 100% at the beginning of 2013 (average Dec 2012-Feb 2013) however the last three months have been less than 50%. That is because between September 2011 and May 2013 only one new store was opened – there was no drain on or cannibalization of same store sales. That headwind will start to fall off in June 2014 (Cali North is open 13 and a half full months) and Nov 2014 (La Union is open 13 and a half full months). In addition November and December will see the addition of three new single store cities (Pereira, Medellin and Bogota all in Colombia) – all addition no drain/cannibalism.

    What I think it means is that Pricesmart have little competition other than themselves. The new stores will add significantly to revenue. Expect same store sates to grow again in the second half of 2014.

  • Reply to

    Earnings call

    by pileatedwp1953 Apr 10, 2014 5:07 PM

    OK with Easter in April this year you would have expected comparable sales to be much better than they turned out to be. Something seems to be wrong. Does anyone have an idea to explain the poor sales figures?

  • Even AFTER a 20% drop in price, P/E is still around 32. Dividends at 0.7%. What is there to like about this stock?

    "Good" company or not, it's hard to justify buying now.

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