PriceSmart (NASDAQ: PSMT) saw its comparable warehouse sales (comps) for the five-week period that ended Jun 2nd (for its 40 warehouse clubs) fall by 0.9%. This decline is not the only one; comps also declined by 0.5% decline in April. On top of that, comps for March, February and January dropped 1%, 1.9% and 1.4%, respectively.
Most of the decline that happened is due to foreign currency exchange rate fluctuations that adversely impacted comps by 3.9%. Despite PrimceSmart’s weak comps performance, the company’s total sales grew and managed to hit $839.6 million in the Q2 of fiscal 2019.