PriceSmart revenue rises in August as customers continue to spend at its warehouse clubs

PriceSmart’s revenue increase in August

SAN DIEGO — PriceSmart Inc.’s revenue climbed in August as customers continued to seek bargains on basic items at the company’s warehouse clubs amid a soft economy.

Revenue at clubs open at least a year rose 16.8 percent for the six weeks ended Sept. 5. This figure is a key indicator of a retailer’s health because it measures results at existing stores rather than newly opened ones.

For the year-to-date, revenue at locations open at least a year increased 8.2 percent.

PriceSmart’s August revenue rose 19.1 percent to $122.1 million, with revenue for the 12 months ended Aug. 31 up 11.6 percent to about $1.37 billion.

The warehouse club operator, based in San Diego, owns and runs U.S.-style membership shopping warehouse clubs in Central America and the Caribbean. It has 27 warehouse clubs in 11 countries and one U.S. territory.