PriceSmart: Slumps as same-store sales decline in March

PriceSmart

09/04/2021 16:01

** Discount stores operator's shares  PSMT.O  posts their
biggest daily percentage fall in over a year, last down ~8% at
$88.74
    ** Same-store sales declined 5.9% in March compared to the
same period last year  urn:newsml:reuters.com:*:nPnzJZ7Ja
    ** Says despite the COVID-driven surge in buying in March
2020, net merchandise sales increased 0.5% to $307.6 mln from
$306.1 mln in March a year earlier
    ** Says foreign currency exchange fluctuations impacted net
merchandise sales negatively by 1.5% versus the same one-month
period in the prior year
    ** Co Thursday after market reported Q2 same-store sales
growth of 1.1%  urn:newsml:reuters.com:*:nPn2lJWCma
    ** "Despite our success, the pandemic still weighs on our
business in certain markets," PriceSmart CEO says 
    ** Shares down ~6% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))