PriceSmart announced Thursday that it has opened a warehouse club in Managua, Nicaragua, the second warehouse club in the nation that will bring the company’s total operational locations to 38.
Warehouse clubs operated by PriceSmart are clubs that offer merchandise at special prices to those who have memberships. The company operates locations in Colombia, Costa Rica,
the Dominican Republic, Guatemala, Panama and other nations in Latin America and the Caribbean.
The company also reported that sales increased for October compared to the previous year. For October 2015, net sales were 12.9 percent higher than they were in 2014, amounting to $233.4 million. Similar growth was reported in both September and October combined, seeing an increase of 12.7 percent in this period over the past year. Over the course of October 2015, there were 37 locations open, three more than in October 2014.
Four- and eight-week periods ending on Oct. 25 saw approximately 3.2 percent growth in sales in locations that were operational for at least 13.5 months, compared to each respective period in 2014.
