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PriceSmart sales up nearly 15 percent for May

The Associated Press

PriceSmart Inc. said Friday that its revenue increased nearly 15 percent, to $187.5 million, last month from the year before.

The company, which is based in San Diego, runs 31 warehouse clubs in Latin America and the Caribbean.

Revenue from established stores increased 9.8 percent for the five-week period that ended June 2. The company measures this by looking at warehouse clubs open for at least 13 and one-half months. This is considered a key measure of a retailer's financial performance as it strips away the impact of recently opened or closed stores.

Shares of the company increased $2.96, or 3.5 percent, to $88.10 in late morning trading. Its stock is near the top of its 52-week trading range of $59 to $90.99.