PriceSmart leaps over US retailers by 15 percent surge over same-store sales
Friday, July 9, 2010
Discount club-store operator PriceSmart’s fiscal third-quarter profit jumped 38 percent as revenue grew and its stores' margins increased.
The company also said June same-store sales jumped 15 percent. The result trounced US retailers, which posted mixed same-store sales for the month after offering steep discounts to try to attract tightfisted consumers in a sluggish economy.
PriceSmart, which is based in San Diego but operates warehouse shopping clubs in Central America and the Caribbean, has seen results improve of late.
Original source: Dow Jones