PriceSmart Falls 3% After Q1 Earnings Miss
PriceSmart (NASDAQ: PSMT) is down more than three percent in after hours trading after the company announced its first quarter results.
The company reported a Q1 EPS of $0.71 versus the Street estimate of $0.75.
Despite the miss, earnings per share were up eight percent from the year-ago period.
Revenue arrived at $605.6 million versus the Street estimate of $609.04 million. Sales were up 13 percent year-over-year.
Last fall, PriceSmart announced that that the company's net warehouse club sales had increased 13 percent in October. This was partially due to the company's expansion (there were 32 warehouse clubs in operation at the end of October 2013 -- two more than were in operation during the year-ago period).
Shares of PriceSmart are down just over one percent this year, but are up more than 41 percent over the last 12 months.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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