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PriceSmart Inc. Message Board

therealstars1234 3 posts  |  Last Activity: May 21, 2014 12:13 PM Member since: Dec 14, 2012
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  • Reply to

    12.9 cents div payable today!

    by rogd77 May 21, 2014 11:21 AM
    therealstars1234 therealstars1234 May 21, 2014 12:13 PM Flag

    You need to look a their investor relations site. Declared a quarterly dividend for the first quarter of 2014 of US$0.1293 per ADS, or HK$0.3341 per ordinary share.
    But I think it is actually payable June 6th.

  • therealstars1234 therealstars1234 May 12, 2014 12:59 PM Flag

    With respect to the buy back, I'm not convinced it's a lock.

    Firstly, the rhetoric from Ho on the CC reminded me of the discussion on dividends. They are thinking about it at board level. They'll work on it (get the right shareholder approval) but it won't be for a quarter or two. Secondly, Ho specifically said that this year is the most capex intensive which sounded to me like laying the groundwork that this is someway off.

    I'd like a buyback. It's cheap. But I'm not convinced one will materialize (possibly until the stock is materially higher).

  • Reply to

    Earnings call

    by pileatedwp1953 Apr 10, 2014 5:07 PM
    therealstars1234 therealstars1234 May 7, 2014 5:30 PM Flag

    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.

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