Price Smart Q3 profit falls 18%

San Diego PriceSmart, which runs warehouse-shopping clubs in Central America and the Caribbean, said Friday its third-quarter profit fell 18%.

The retailer earned $8.7 million in the quarter that ended May 31, compared with $10.6 million a year earlier.

The most recent quarter's results included a $2 million expense reversal and another $2 million settlement reduction that boosted the company's profit.