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PriceSmart Reports Jump In April Same-store Sales

The Associated Press

SAN DIEGO, Calif. (AP) — Warehouse club operator PriceSmart Inc. said Friday that same-store sales at its warehouse club stores gained 6.9 percent in April.

Same-store sales, or sales in stores open at least a year, are an important retail industry metric because they measure sales in established stores instead of newly opened ones.

Net sales for the four weeks ended April 26 grew 8.8 percent to $96.8 million, from $88.9 million in April 2008.

For the 34 weeks ended April 26, the company's same-store sales surged 12.8 percent year-over year.

PriceSmart shares gained 14 cents to $17.19 in afternoon trading.