PriceSmart's November sales up sharply

PriceSmart Inc. sales jumped more than 13 percent in November

Associated Press

SAN DIEGO (AP) -- PriceSmart Inc. said Friday that its sales improved significantly in November.

The warehouse club operator, based in San Diego, said total sales for November increased 13.2 percent to $183.7 million, compared with last year. For the three months that ended Nov. 30, sales rose 11.8 percent to $523.6 million.

PriceSmart also said that for the five weeks that ended Dec. 2, sales at stores open at least a year grew by 7.8 percent compared with the same five-week period a year ago. That data is an important indicator of a retailer's performance, because it strips out results from recently closed or opened stores.

The company had 30 warehouse clubs in operation at the end of November.

PriceSmart shares fell $1.46 to $77.11 in morning trading. The stock has ranged from $56.55 to $86 in the past 52 weeks.

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