PriceSmart reported 12.1% revenue growth in Q3, beating expectations. Net sales grew by 11.6% and operating income rose. Adjusted EPS exceeded consensus. Company has 54 warehouse clubs..
The futures market on Thursday reflected jitteriness as traders awaited the all-important consumer price inflation data. The broader market is amid a multi-session winning run and has been breaking records session after session, sending the valuation of especially some mega-cap stocks to unsustainable levels.
The market’s bullish bias will likely be put to the test on Wednesday as some key market-moving catalysts due this week could pose a threat to the upward momentum.
PriceSmart reported strong Q2 results, with revenue up 13.1% and adjusted EPS of $1.31 beating expectations. It also declared a special dividend of $1.00 per share and has 54 warehouse clubs in operation.
Shares of PriceSmart, Inc. (NASDAQ: PSMT) rose sharply in today’s pre-market trading as the company posted better-than-expected earnings for its second quarter.
Stock futures are all in the green early Wednesday as traders factor in tame March inflation data. A hotter-than-expected number may not result in a big pullback, given the recent consolidation, said value investor and New York University Professor Aswath Damodaran.
