As seen on:
ntv-logo sky-logo comedy-central-logo

PriceSmart’s (NASDAQ:PSMT) comps down in May, affected by currency floctuations

  • PriceSmart’s comps fell by 0.9% (which is just one of many declines that happened consecutively);
  • Most of the decline that happened is due to foreign currency exchange rate fluctuations;
  • Company’s total sales hit $839.6 million in the Q2 of fiscal 2019.

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.