Shares of PriceSmart Inc.
PSMT,
+0.73%
was indicated down more than 2% in premarket trading Friday, after the membership-based retailer reported March same-store sales fell 5.9% from a year ago. The company noted that in March 2020, same-store sales had soared 15.7% as members stocked up amid uncertainties over the COVID-19 pandemic. Net sales for March 2021 rose 0.5% to $307.6 million. The one analyst that provided a net sales forecast to FactSet is expecting fiscal third-quarter sales of $819 million. The stock has slipped 2.9% over the past three months through Thursday, while the SPDR S&P Retail ETF
XRT,
+0.81%
has soared 33.2% and the S&P 500
SPX,
+0.42%
has gained 7.1%.
