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PriceSmart PriceSmart Announces Fiscal 2021 Third Quarter Operating Results THIRD QUARTER DILUTED EARNINGS PER SHARE OF $ 0.73 NET MERCHANDISE SALES GREW 11.6 % OPERATING INCOME INCREASED 50.4 % TRAILING 12 - MONTH MEMBERSHIP RENEWAL RATE OF 87.6 % SAN DIEGO , July 8 , 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 third quarter of 2021 which ended on May 31 , 2021 . Comments from Sherry S. Bahrambeygui , Chief Executive Officer : " Operational efficiencies , digital capabilities , optionality for our supply chain , and we believe , the trust of our employees and Members to do our best to anticipate their needs and keep them safe , have contributed to our strong performance for the third quarter . Our total and comparable sales grew in the third quarter of fiscal year 2021 , 11.6 % and 8.8 % , respectively , versus the same period last year . We continue to navigate through significant challenges in several of our markets , including rising COVID cases , club closures and restrictions , social unrest and economic pressures . However , our team is unwavering in its commitment to excel and deliver great value to our Members , regardless of the circumstances . " Efforts to expand Membership benefits continue , such as our Wellness initiatives in Optical , Pharmacy and Audiology services . Our investments in technology and our omni - channel initiatives have enabled us to further enhance services , benefits , and convenience for our Members , among other things . Our trailing 12 - month Membership renewal rate is 87.6 % - higher than its pre - COVID level - and our Membership base is rapidly approaching its peak pre - COVID level . " We are on target with plans to open new warehouse clubs in Guatemala City , Guatemala and Bucaramanga , Colombia in the fall of 2021 , and in Portmore , Jamaica in the spring of 2022 . " Our team has innovated , elevated performance and delivered results in unprecedented ways . This has inspired us all for the future of our company . " " I Third Quarter Financial Results Total revenues for the third quarter of fiscal year 2021 increased 11.9 % to $ 895.3 million compared to $ 799.9 million in the comparable period of the prior year . For the third quarter of fiscal year 2021 , net merchandise sales increased 11.6 % to $ 857.5 million from $ 768.4 million in the third quarter of fiscal year 2020. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $ 11.6 million , or 1.6 % , versus the same period in the prior year . The Company had 47 warehouse clubs in operation as of May 31 , 2021 compared to 45 warehouse clubs in operation as of May 31 , 2020 . Comparable net merchandise sales for the 45 warehouse clubs that have been open for greater than 13 ½ calendar months increased 8.8 % for the 13 - week period ended May 30 , 2021 compared to the comparable period of the prior year . Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $ 11.8 million or 1.5 % versus the same period in the prior year . The Company recorded operating income during the fiscal third quarter of $ 36.0 million compared to operating income of $ 24.0 million in the prior year period . Net income attributable to PriceSmart was $ 22.5 million , or $ 0.73 per diluted share , in the third quarter of fiscal year 2021 as compared to $ 12.7 million , or $ 0.41 per diluted share , in the third quarter of fiscal year 2020 . PriceSmart management will host a conference call at 12:00 p.m. Eastern time ( 9:00 a.m. Pacific time ) on Friday , July 9 , 2021 , to discuss the financial