Business

Notable News to Watch: PriceSmart (NASDAQ:PSMT)

PriceSmart (NASDAQ:PSMT) spotted trading -29.40% off 52-week high price. On the other end, the stock has been noted 37.08% away from the low price over the last 52-weeks. The stock changed -1.54% to recent value of $56.41. The stock transacted 263656 shares during most recent day however it has an average volume of 181.33K shares. The company has 30.75M of outstanding shares and 24.52M shares were floated in the market.

On April 7, 2020, PriceSmart (NASDAQ:PSMT) revealed that for the month of March 2020 net merchandise sales increased 17.1% to $306.1 million from $261.5 million in March a year earlier. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $7.7 million or 2.5% versus the same one-month period in the prior year. There were 45 warehouse clubs in operation at the end of March 2020 and 41 warehouse clubs in operation at the end of March 2019.

Fiscal year to date, which includes the seven months ended March 31, 2020, net merchandise sales increased 7.0% to $1,956.5 million from $1,829.2 million for the seven months ended March 31, 2019. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $22.7 million or 1.2% versus the same seven month period in the prior year.

For the four weeks ended March 29, 2020, comparable net merchandise sales for the 41 warehouse clubs open at least 13 ½ full months increased 15.7% when compared to the same four-week period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $6.9 million or 3.0% versus the same period in the prior year.

For the 30-week period ended March 29, 2020, comparable net merchandise sales increased 2.6% compared to the same 30-week period a year ago. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $21.5 million or 1.2% versus the same prior year period.

Its earnings per share (EPS) expected to touch remained -15.60% for this year while earning per share for the next 5-years is expected to reach at 15.00%. PSMT has a gross margin of 16.50%.

According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 13.20% from the mean of 20 days, 1.27% from mean of 50 days SMA and performed -10.63% from mean of 200 days price. Company’s performance for the week was 7.35%, 9.22% for month and YTD performance remained -20.57%.

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