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PriceSmart PriceSmart Announces Fiscal 2021 First Quarter Operating Results SALES GROW 8.1 % AND OPERATING INCOME INCREASES BY 45 % DILUTED EARNINGS PER SHARE GROW BY 40.6 % NET COMPARABLE MERCHANDISE SALES INCREASE BY 3.6 % E - COMMERCE ACHIEVES 3.1 % PENETRATION OF TOTAL MERCHANDISE SALES SAN DIEGO , Jan. 7 , 2021 / PRNewswire / -- PriceSmart , Inc. ( NASDAQ : PSMT ) , operator of 47 warehouse clubs in 12 countries and one U.S. territory , today announced its results of operations for the fiscal first quarter of 2021 which ended on November 30 , 2020 . Comments from Sherry S. Bahrambeygui , Chief Executive Officer : " PriceSmart delivered solid results for the first quarter of fiscal year 2021. In November , mobility restrictions were reduced in many of our markets . We meanwhile expanded our Click and Go ™ contactless shopping program , which provides for ordering online and curbside pickup , and as of Q1 , includes delivery options in all of our markets . We continue to improve operating efficiencies while making appropriate investments . Together , these initiatives have contributed to an increase in our operating income of 45.0 % to $ 44.5 million and an earnings increase of 40.6 % to $ 0.90 per diluted share in the first quarter of 2021 compared to the prior - year period . Although varying pandemic - related restrictions throughout our markets were on the rise again in December and continue to impact the business in early January , thanks to our tremendous team , we are becoming increasingly adept at early monitoring and quickly adjusting to challenges as they arise , as well as anticipating the needs and preferences of our Members . " First Quarter Financial Results Total revenues for the first quarter of fiscal year 2021 increased 8.1 % to $ 877.4 million compared to $ 811.9 million in the comparable period of the prior year . For the first quarter of fiscal year 2021 , net merchandise sales increased 7.7 % to $ 838.4 million from $ 778.7 million in the first quarter of fiscal year 2020. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $ 27.4 million , or 3.5 % , versus the same period in the prior year . The Company had 46 warehouse clubs in operation as of November 30 , 2020 compared to 45 warehouse clubs in operation as of November 30 , 2019 . Comparable net merchandise sales for the 43 warehouse clubs that have been open for greater than 13 ½ calendar months increased 3.6 % for the 13 - week period ended November 29 , 2020 compared to the comparable period of the prior year . Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $ 27.0 million or 3.5 % versus the same period in the prior year . The Company recorded operating income during the fiscal first quarter of $ 44.5 million compared to operating income of $ 30.7 million in the prior year period . Net income attributable to PriceSmart was $ 27.7 million , or $ 0.90 per diluted share , in the first quarter of fiscal year 2021 as compared to $ 19.7 million , or $ 0.64 per diluted share , in the first quarter of fiscal year 2020 . The Company reports comparable net merchandise sales on a " same week " basis with 13 weeks in each quarter beginning on a Monday and ending on a Sunday . The periods are established at the beginning of the fiscal year to provide as close a match as possible to the calendar month and quarter that is used for financial reporting purposes . This approach equalizes the number of weekend days and weekdays in each period for an improved sales comparison , as the Company experiences higher merchandise club sales on the weekends . Each of the warehouse clubs used in the calculations was open for at least 13 ½ calendar months before its results for the current period were compared with its results for the prior