PriceSmart Announces January Sales and Property Acquisition for Sixth New Warehouse Club in Costa Rica

PriceSmart Announces January Sales and Property Acquisition for Sixth New 
Warehouse Club in Costa Rica 
SAN DIEGO, CA -- (Marketwire) -- 02/07/13 --  PriceSmart, Inc.
(NASDAQ: PSMT) today announced that for the month of January 2013,
net sales increased 10.2% to $173.5 million from $157.4 million in
January a year earlier. For the four months ended January 31, 2013,
net sales increased 11.5% to $950.7 million from $853.0 million in
the same period last year. There were 30 warehouse clubs in operation
at the end of January 2013 compared to 29 warehouse clubs in
operation in January 2012. 
For the four weeks ended January 27, 2013, comparable warehouse sales
for the 29 warehouse clubs open at least 13 1/2 full months increased
3.9% compared to the same four-week period last year. Due to the
timing of New Year's Day, the four-week period ending January 27,
2013 had one fewer sales day than the comparable four-week period
last year. The loss of one sales day in the January 2013 four-week
period caused comparable sales to be approximately 3.7 percentage
points lower than if the two four-week periods had the same number of
sales days. For the twenty-one-week period ended January 27, 2013,
comparable warehouse sales increased 8.8% compared to the comparable
twenty-one-week period a year ago. 
Additionally, the Company announced that on February 4th, 2013 it
acquired approximately 20,370 square meters of land located in La
Union, Cartago, Costa Rica, upon which PriceSmart plans to construct
its sixth Membership Warehouse Club in Costa Rica. PriceSmart
currently anticipates opening the Cartago Club in the fall of 2013.
PriceSmart entered the Costa Rica market thirteen years ago and is
currently operating five PriceSmart Membership Warehouse Clubs in
Costa Rica, pending the opening of this planned sixth Club. 
About PriceSmart  
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 30 warehouse clubs in 12
countries and one U.S. territory (five in Costa Rica; four each in
Panama and Trinidad; three each in Guatemala and the Dominican
Republic; two each in Colombia, El Salv
ador, and Honduras; and one
each in Aruba, Barbados, Jamaica, Nicaragua and the United States
Virgin Islands).  
This press release may contain forward-looking statements concerning
the Company's anticipated future revenues and earnings, adequacy of
future cash flow and related matters. These forward-looking
statements include, but are not limited to, statements containing the
words "expect," "believe," "will," "may," "should," "project,"
"estimate," "anticipated," "scheduled," and like expressions, and the
negative thereof. These statements are subject to risks and
uncertainties that could cause actual results to differ materially,
including the following risks: the Company's financial performance is
dependent on international operations which exposes the Company to
various risks; any failure by the Company to manage its widely
dispersed operations could adversely affect its business; the Company
faces significant competition; future sales growth could be dependent
upon the Company acquiring suitable sites for additional warehouse
clubs; the Company faces difficulties in the shipment of, and risks
inherent in the acquisition and importation of, merchandise to its
warehouse clubs; the Company is exposed to weather and other natural
disaster risks; general economic conditions could adversely impact
the Company's business in various respects; the Company is subject to
changes in relationships and agreements with third parties with which
the Company does business; a few of the Company's stockholders own
nearly 30.4% of the Company's voting stock, which may make it
difficult to complete some corporate transactions without their
support and may impede a change in control; the loss of key personnel
could harm the Company's business; the Company is subject to
volatility in foreign currency exchange rates; the Company faces the
risk of exposure to product liability claims, a product recall and
adverse publicity; a determination that the Company's long-lived or
intangible assets have been impaired could adversely affect the
Company's future results of operations and financial position;
although the Company takes steps to continuously review, enhance, and
implement improvements to its internal controls, there may be
material weaknesses or significant deficiencies that the Company has
not yet identified; as well as the other risks detailed in the
Company's U.S. Securities and Exchange Commission ("SEC") reports,
including the Company's Annual Report on Form 10-K for the fiscal
year ended August 31, 2012, filed pursuant to the Securities Exchange
Act of 1934 on October 30, 2012. We assume no obligation and
expressly disclaim any duty to update any forward-looking statement
to reflect events or circumstances after the date of this
presentation or to reflect the occurrence of unanticipated events.  
For further information, please contact 
John M. Heffner
Principal Financial Officer and Principal Accounting Officer 
(858) 404-8826 
Press spacebar to pause and continue. Press esc to stop.