PriceSmart, Inc. today announced that for the month of June 2017, net warehouse club sales increased 4.1% to $230.1 million, from $221.1 million in June a year earlier. For the ten months ended June 30, 2017, net warehouse club sales increased 3.1% to $2,429.2 million, from $2,355.4 million for the ten months ended June 30, 2016. There were 39 warehouse clubs in operation at the end of June 2017 and 38 warehouse clubs in operation at the end of June 2016.
For the four weeks ended July 2, 2017, comparable warehouse sales for the 38 warehouse clubs open at least 13 1/2 full months increased 1.5%, compared to the same four-week period last year. For the forty-three week period ended July 2, 2017, comparable warehouse sales increased 1.4%, compared to the comparable forty-three week period a year ago.
The Company also announced that in June 2017, the Company acquired land in Santo Domingo, Dominican Republic. The Company plans to construct a warehouse club on this site, which it expects to open in the spring of calendar year 2018. This will bring the number of PriceSmart warehouse clubs operating in the Dominican Republic to four.
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 39 warehouse clubs in 12 countries and one U.S. territory (seven in Colombia; six in Costa Rica; five in Panama; four in Trinidad; three each in Guatemala, the Dominican Republic and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands).