PriceSmart opens fifth warehouse club in Panama

PriceSmart, Inc. recently opened its fifth warehouse club in Panama, with a new location in Costa Verde.

The new warehouse brings the total number of PriceSmart warehouse clubs in operation to 37. 

The company also announced its third quarter operating results for fiscal year 2015, which ended on May 31.

Net warehouse club sales for this year's third quarter increased 13 percent to $675.3 million from $597.9 million in the third quarter of fiscal year 2014.

Total revenue for the third quarter of fiscal year 2015 was $697.1 million.

Net income was $21.2 million, or $0.70 per diluted share, in the third quarter of fiscal year 2015 compared to $21.3 million, or $0.70 per diluted share, in the third quarter of fiscal year 2014.

For the first nine months of fiscal year 2015, net warehouse club sales increased 10.8 percent to $2,043.8 million from $1,844.7 million in the first nine months of fiscal year 2014.

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PriceSmart, Inc

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