retail news in context, analysis with attitude

• PriceSmart, the membership club chain, said that its August net sales increased 3.5 percent to $102.5 million from $99.00 million in August a year earlier. For the twelve months ended August 31, 2009, net sales increased 11.6 percent to $1,224.3 million from $1,097.5 million for the twelve months ended August 31, 2008.

August same-store sales were up 0.6 percent, while annual same-store sales were up 8.7 percent.

• Smithfield Foods said that its first quarter revenue declined nearly 14 percent to $2.72 billion from $3.14 billion a year ago, and said that it had a Q1 loss of $107.7 million, compared with a loss of $13.2 million in the same period last year.
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