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PriceSmart (PSMT) Exhibits Strong Sales Performance in March
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Despite a tough retail competitive landscape,PriceSmart, Inc. (PSMT - Free Report) is witnessing strong sales performance. The company’s net warehouse club sales rose 8.9% to $261.3 million in March 2018, from the year-ago period, following an increase of 6.6% and 6.2% in February and January, respectively. In fact, the rate of growth for net warehouse club sales has been accelerating.
Meanwhile, comparable net warehouse club sales increased 3.5% for the four weeks ended Apr 1, 2018. For the February and January periods, the same increased 4.4% and 0.5% respectively. Further, comparable net warehouse club sales increased 3.2% for the 30-week period ended Apr 1, 2018, compared with the 30-week period a year ago.
Prior to March sales results, this Zacks Rank #3 (Hold) company came out with its second-quarter fiscal 2018 earnings on Apr 5. The company’s earnings per share was in line with the Zacks Consensus Estimate. The company also witnessed year-over-year increase in revenues in the reported quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PriceSmart, Inc. Price, Consensus and EPS Surprise
Notably, the stock has gained 5.5% since its earnings release. We observed that in a month, the stock has gained 8.6% outperforming the industry’s growth of 1.2%.
The Retail - Discount Stores industry, to which PriceSmart belongs, is on a healthy growth trajectory. In a year, the industry which occupies a space in the top 32% (85 out of 265) among the Zacks industries, gained 17.5% outperforming the S&P 500’s growth of 10.9%.
Going by a report of Deloitte, retail market is expected to grow 3.2% to 3.8% in 2018. Rise in disposable income is a major factor driving the market. Considering the bountiful opportunities in this niche we expect PriceSmart to witness higher top-line growth in the coming quarters. Some of the key players in the industry are Burlington Stores (BURL - Free Report) , Costco Wholesale (COST - Free Report) and Big Lots (BIG - Free Report) .
Recently, the company has also acquired Aeropost, Inc. Headquartered in Miami, FL, Aeropost is a cross border logistics provider and online retailer in Latin America and the Caribbean. With this acquisition, we expect the company to bolster revenues further in the near-term.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
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PriceSmart (PSMT) Exhibits Strong Sales Performance in March
Despite a tough retail competitive landscape,PriceSmart, Inc. (PSMT - Free Report) is witnessing strong sales performance. The company’s net warehouse club sales rose 8.9% to $261.3 million in March 2018, from the year-ago period, following an increase of 6.6% and 6.2% in February and January, respectively. In fact, the rate of growth for net warehouse club sales has been accelerating.
Meanwhile, comparable net warehouse club sales increased 3.5% for the four weeks ended Apr 1, 2018. For the February and January periods, the same increased 4.4% and 0.5% respectively. Further, comparable net warehouse club sales increased 3.2% for the 30-week period ended Apr 1, 2018, compared with the 30-week period a year ago.
Prior to March sales results, this Zacks Rank #3 (Hold) company came out with its second-quarter fiscal 2018 earnings on Apr 5. The company’s earnings per share was in line with the Zacks Consensus Estimate. The company also witnessed year-over-year increase in revenues in the reported quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PriceSmart, Inc. Price, Consensus and EPS Surprise
PriceSmart, Inc. Price, Consensus and EPS Surprise | PriceSmart, Inc. Quote
Notably, the stock has gained 5.5% since its earnings release. We observed that in a month, the stock has gained 8.6% outperforming the industry’s growth of 1.2%.
The Retail - Discount Stores industry, to which PriceSmart belongs, is on a healthy growth trajectory. In a year, the industry which occupies a space in the top 32% (85 out of 265) among the Zacks industries, gained 17.5% outperforming the S&P 500’s growth of 10.9%.
Going by a report of Deloitte, retail market is expected to grow 3.2% to 3.8% in 2018. Rise in disposable income is a major factor driving the market. Considering the bountiful opportunities in this niche we expect PriceSmart to witness higher top-line growth in the coming quarters. Some of the key players in the industry are Burlington Stores (BURL - Free Report) , Costco Wholesale (COST - Free Report) and Big Lots (BIG - Free Report) .
Recently, the company has also acquired Aeropost, Inc. Headquartered in Miami, FL, Aeropost is a cross border logistics provider and online retailer in Latin America and the Caribbean. With this acquisition, we expect the company to bolster revenues further in the near-term.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
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