We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PriceSmart (PSMT) Continues to Impress With Decent Comps Run
Read MoreHide Full Article
Strong labor market, rising disposable income, elevated consumer sentiment and strategic efforts are working in tandem for PriceSmart, Inc. (PSMT - Free Report) in a tough retail landscape. This San Diego, CA-based company registered comparable sales growth of 3.1% for five-week period ended Jun 3, 2018. This follows an increase of 1.9%, 3.5%, 4.4% and 0.5% for April, March, February and January, respectively.
Meanwhile, net warehouse club sales for the month of May rose 6.2% year over year to $248.7 million. The company had recorded sales increase of 1.6%, 8.9%, 6.6% and 6.2% in April, March, February and January, respectively.
For the nine months ended May 31, 2018, net sales jumped 5.1% to $2,312.2 million. Further, comparable warehouse club sales were up 3% for the 39-week period compared with the year-ago period.
The industry, to which PriceSmart belongs, occupies a space in the bottom 31% (176 out of 256) among the Zacks industries. The industry of late has been bearing the brunt of heightened online competition thanks to Amazon (AMZN - Free Report) , lower footfall and changing consumer spending patterns. These headwinds have compelled retailers to re-examine their strategies. They are now focusing more on enhancing omni-channel capabilities, optimizing store fleet and restructuring activities. Apart from PriceSmart, retailers such as L Brands (LB - Free Report) and Costco (COST - Free Report) recently released comparable sales data for May. While L Brands reported comparable sales growth of 5%, Costco registered 11.7% increase.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
PriceSmart (PSMT) Continues to Impress With Decent Comps Run
Strong labor market, rising disposable income, elevated consumer sentiment and strategic efforts are working in tandem for PriceSmart, Inc. (PSMT - Free Report) in a tough retail landscape. This San Diego, CA-based company registered comparable sales growth of 3.1% for five-week period ended Jun 3, 2018. This follows an increase of 1.9%, 3.5%, 4.4% and 0.5% for April, March, February and January, respectively.
Meanwhile, net warehouse club sales for the month of May rose 6.2% year over year to $248.7 million. The company had recorded sales increase of 1.6%, 8.9%, 6.6% and 6.2% in April, March, February and January, respectively.
For the nine months ended May 31, 2018, net sales jumped 5.1% to $2,312.2 million. Further, comparable warehouse club sales were up 3% for the 39-week period compared with the year-ago period.
The decent comparable sales performance has helped this Zacks Rank #3 (Hold) stock to increase 8% compared with the Retail-Discount Stores industry’s gain of 9% in the past three months. Moreover, we note that in a month the stock has improved 6.5%, outperforming the industry’s gain of 5%. 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
The industry, to which PriceSmart belongs, occupies a space in the bottom 31% (176 out of 256) among the Zacks industries. The industry of late has been bearing the brunt of heightened online competition thanks to Amazon (AMZN - Free Report) , lower footfall and changing consumer spending patterns. These headwinds have compelled retailers to re-examine their strategies. They are now focusing more on enhancing omni-channel capabilities, optimizing store fleet and restructuring activities.
Apart from PriceSmart, retailers such as L Brands (LB - Free Report) and Costco (COST - Free Report) recently released comparable sales data for May. While L Brands reported comparable sales growth of 5%, Costco registered 11.7% increase.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>