US-based warehouse club retailer PriceSmart has reported an increase in net warehouse sales of 24.1% to $468.33 million for the first quarter ended November 30, 2011.
Total revenue for the quarter was $478.69 million compared to $386.07 million for the prior year period while operating income improved to $24.3 million from $22.2 million in 2011.
Despite the rise in sales, PriceSmart recorded a decrease in net income to $13.99 million from $14.85 million the previous year.
Source: Planet Retail
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