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Owns and operates U.S.-style membership shopping warehouse clubs through majority or wholly owned ventures operating in Central America and the Caribbean using the trade name 'PriceSmart.'
I just listened to the January 10, 2013 PSMT conference call and I am encouraged by their reported 2012 growth and forward looking growth metrics for 2013. In view of strong revenue increases in existing stores in Columbia, PSMT will open three more stores in Columbia in 2013. This expansion along with reported expected improvements in South American economic forecasts for 2013 bodes well for next year's returns. Management is happy with the very good performance of their South American stores although they see Caribbean operations not quite as rosy. Because of the steady growth seen in past quarters management continues to seek out real estate for new stores to open in 2014 in the larger metropolitan areas in Columbia and other regions where Pricesmart operates. All in all the conference call sounded promising and I look forward to PSMT to outperform in 2013.
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