PriceSmart profit, sales up in Q3

San Diego -- Warehouse club operator PriceSmart reported Thursday that net income for the quarter ended May 31 rose to $16.3 million, compared with $12 million in the year-ago period.



Sales surged 23.6% to $421.6 million, from $341.2 million.



The company had previously announced it acquired 131,524 sq. ft. of land in Cali, Colombia, upon which it will build its second warehouse club in Colombia.