investors current this tell of involved our our Michael. anything analysts that about activities. as you thank want granted can who well possible with made taking we so and not about it with QX has to our you as you connect for thank to results our everyone In inform the company's and I for morning, spirit everyone call Good
Although welcome Officer. remote our locations, I our and XX, CFO job we're to he Chief XX from Financial has our December conducting company experience Michael an Interim want has the as excellent McCleary, with extensive since and ongoing has business years He our XXXX. Michael done this been leadership with team. call for official as
know of of qualities. to a great the you had say You they the know and true of more really events revealed of person's couple in and get last colors stress challenges times many months Michael's
results. insights influenced So normally events that I get you with right sharing key recent most on to quarterly have our
the and XXXX business with fiscal second results quarter year good Our ended strong of momentum.
of Organization World XX us quarter across employees has and virus disruption novel the This well-positioned of the recognized many some pandemic. couple year our COVID-XX one strain that would from what Health the caused and global touched we’ve our in every of into been benefits we’re seeing We’re look working just the for feeling and year about pretty rest the of of till thought weeks a has including countries. indicatives third members Then coronavirus, we that March, a manner, in as this like. last on a
to me. us priorities. main changed March, to shifted it the clear quickly So five had by focus our Excuse was and world
chain. steps this of pandemic. ever in first additional always, the than operations phase more and our two, continued and members Priority one, protect safety and three, Priority proactive to measures take well-being number priority to foremost supply our without So now disruption. ensure as and employees protect and the take our of
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a over ideas and little of We're month improvements us I our We're actions to and very now actions, and summary opportunity. often that we're for happens response shape of the as pushing taken finding crisis new COVID believe actually in times in this necessity, a we've will a outbreak. the some business The future help of in specific following positive is way. into
continue priority two, continued key of precautions. So our second off remotely and employees, week off mandates site we've from as before quickly members the This supporting operations, to and taking functions operations government performed with well sided could able of extra done many one employees whose been was approximately and since our we be all to executives March.
of many our days February, impacting each retail a our Governmental have operations. and markets. authorities XX policies and in of club business. in resulted representing all day, leadership our week. imposed of This in developments the we these market or a and is covering had of for markets force on [indiscernible] all detail team with affecting we our plan of Every for and or task in limiting are leadership aspects XXX% path the our In assembled access seven communicate members our sectors restrictions have review
to vary finding team limitations continue to local to by day-to-day nimble members from and ways laws changed restriction stands market. and ready while in our These abiding is to But and regulations. market and respond serve real-time our
to personal providing taking our the our our members providing that to throughout the with for frontlines implemented At as heroes, need. who measures, the goods we've protective club preventative face-to-face our equipment – our centers, employees protocols them. such level protect distribution are really down public and safety We're
best contact. our members guards good temperatures protocols, measures, installing removed and mapping and employees food and other with food taking eliminating cleaning practices hygiene, areas. in-club We've cashiers sneeze social We're for distancing employing We're sanitizing service. We're or then reduced increasing about the facing sampling. educating
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we’re we’re our COVID approximate how we're employees, case among if X,XXX Thankfully, contacts authority transparent confirmed employees only cases we and and prepared aware a doing notified mapping. are and our today as health to follow when confirmed possible. as quarantining and public members the of our number low whatever really we're few guidelines we and that for getting the can circumstances change. report with keep of But We
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actually importance or related very is have region experienced our event flow while in of a upstream, we've have contingency products We closely our that carefully in in majority product surge keep to but plan generally inventories the dynamic our to the situation maintain there able we a that's items negatively and couple a some to chain the place our certain of restrictions. pandemic are on we it supply by members a -- on out-of-stock need, monitor of or experiencing adequate a been and strategic we've inventory levels impacted monitoring that country and
these interaction flow We optionality on products groceries, place members supply are stable distribution centers can members quantity has of center critical Rica the key shop and role cleaning possible. market. certain essentially distribution United limits States risk core our providing such merchandise of the of that that so played paper Our the especially in an reducing and to to as to the items outside the regional of important many available as purchase products as Costa
as clubs individuals [indiscernible]. seniors and as shopping dedicated some to created at our we other employees And hour for well
focus course members. our meeting of fourth of Our is demands the
Over to initiatives few rapidly innovation our the weeks of option to continue our reducing while the we’ve last need that for shop contact. beta technological members allow and physical accelerated expedited
pleased program within to announce enables the Then real-time already to we've -- almost online I'm of and our launched that products Go in We've Click Costa our this launched see availability first capability that all click and best successfully for accommodate Rica. leveraging restrictions. the members and clubs. our members to our catalog
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PriceSmart need might quickly for Price working facing to to preparing commodity operation. including at so and support non-profit in is Philanthropies our which while adapted team to communities it's proud next. smart is we these and basic bags challenges creatively to how responding people incredibly with what be in the also we're provide the I’m
the taking hand. fifth to preserve also the capital Costa the impact warehouse certain construction our plan and are cash results available to expenditures. cash of We focus, the We've uncertainty decided our steps to outbreak potential management, complete on Rica flow, next on Liberia, month. in we delay surrounding proactively given of operations of access clubs cash Our and
we So the postponed opening.
announced Colombia club Bogota situation to not the to for know how previously continue. suspend the we've acquired time of land the decided our long in or and Jamaica, in will is construction being. those really yet Bucaramanga, openings warehouse The on future initiate don’t we’ve that clubs we to respect reality With and
in the are discretionary we've operate. where saving curtailed additional So markets we US, considering cost the and and measures spending, in planning and for
about managing You’ll more our form Michael. liquidity hear
FY QX to So now results. of with call, original purpose turn me this let the that, our XXXX
increase the benefit year. Total for extra the comparable $XXX.X of day an prior an the increase $XXX.X merchandize Net prior a X.X% over company X.X% over of We did year period. were leap record from the this sales period. million, were revenues million, new in of year
from increase X.X% resulted in average increase transactions increase in quarter X.X% second a The a and ticket.
have basis XX or impacting comparable segment impact comparable on the negatively America X.X% quarter we sales or fluctuations in net sales merchandise increase merchandise Comparable Central quarter. X.X% fluctuations Net currency million points our by had sales Currency by sales market in at with end. clubs XX for increased increased in a X.X% $X.X merchandize net merchandize X.X%, with a sales. negative where net X.X% by
currency October the merchandise segment showed the The XXXX. and XXXX American on segment in seventh in impact and in Panama sixth our X.X% comparable total In All XXXX we positive Guatemala club sales X.X% increased positive our May club net in Central year-on-year. to within and November was sales fourth respectively. we of and opened club REIT opened markets
where openings. grew sales In comparable sales growth negatively these Our quarter club X.X% had new merchandise net XX with net we store clubs merchandise total merchandise comparable region sales impacted were the at net X.X%. Caribbean by end, of three
second XXXX. with XX, ended and the segment and the Republic quarter in growth Jamaica market Dominican the XX.X% for XX.X% February Our led way
the In June net Dominican primarily of growth to club all-time growth growth quarter the sales XXXX this is primary February monthly ended while of Jamaica Republic company. a XX, the fifth merchandise strong second for for XXXX. Jamaica the was the driver in set record opening in new attributable was our comparable sales
was we investment to and did the The month $X.X which million negative add impact currency another previously parking. Their X%. in expand both in December, in record sales part enabled by bakery was merchandise had of and the for the comparable sales segment made on club the the of Caribbean alone total
in we was a there The where clubs quite negative negative of seven impact merchandise total and sales and decrease currency sales at sales X.X%. Colombia merchandise on Colombia net X.X% respectively. X.X% merchandise net in X.X%, for comparable quarter net In have was of the comparable grew and significant
our With in prepared primarily fresh foods, and categories, regard to in of growth merchandise department. merchandise good we produce poultry terms in consolidated category, growth experienced by driven our
departments in growth favorable such saw as also pet and We tires goods. supplies, sporting toys,
that and in still categories appliances juices have as and we improvement drink, within category as However, room and electronics other hardline. well beauty health include for several
Now, XXXX in be fee during opening compared Colombian year can with positive QX, up a in also beginning positively growth in of turn fiscal of the million increase by four ended prior new very to been Market. We end approximately quarter. period. during over report accounts the membership warehouse let’s and XXXX. results. Caribbean XX% income last year was new diamond a attributed income the X.X Central accounts, and and to to continue impacted and company membership. record also we our in At to primarily X.X% our a the X% by the quarter The American Membership market Membership income has increase April clubs the
month ended renewal rate XX, respectively. and XXXX, XX XX, February and XX% the was XX% February for periods Our XXXX, trailing
back membership was margins. when total which margin been volume impacted X.X% gross merchandise favorable XX.X% base approximately exchange a Gross to cash XX.X% fiscal margins based Platinum year quarter compared QX has prior annual in higher and the on mostly in fee membership period from increased purchase XXXX. of offers to by Our growing. this represents for our Total net
per Net which XX trends. per share million our XX.X% XX.X% is Net merchandise compared basis margins comparable versus ago the million XXXX income period points for $XX.X year $X.XX quarter and of historical or year the the with preceding prior period same fiscal line quarters or year’s second $X.XX QX year. two X.X% in grew to a to in to for increased from last $XX.X share
Now Cristobal the in remember club clubs clubs in fiscal of two the XXXX quarter Republic, we at Dominican Bolívar this referred Metropark; most XX in in Panama recently quarter end the and and second Veraguas one that ended this XXXX. clubs as warehouse opened with The San to and to Guatemala. quarter compared of club year include XX the new the November
sales turning briefly an now net earlier versus were year $XXX.X So this to by ago. sales released adversely fluctuations merchandise merchandise Net FX X.X%. we impacted which sales mark million, of XX.X% week. a increase
negative net XX, comparable merchandise weeks For XX.X% impact FX X%. March four the of increased end XXXX, a sales with
potential and in Although moderate by of second sales the and the on month. March XXXX half of ahead overall stacking increased in advisory. decreased the given place primarily essentials for significantly food did members the of month up shelter Sales later
the exposure. a government of March experienced about in we was For noticeable consumer reduction end potential and that mandates believe we restrictive traffic driven concerns by
results QX So to we strong for wrap up, posted and sales strong for March.
Our Rights showing the key was preceding metrics. recommit to the year on efforts during to Six results
spending our normal. there Therefore adjust time. recognized and it's is also to and changing difficult member’s consumption many lot when a We are that at this how and predict new a patterns unknowns to will
next and traffic over the months markets the the several As also our recognized a we financial caused on adversely trend that have sit sales impact downward time. sales of the to on our for some in business here affect the will today, pandemic we impact XX COVID that related that and we expect restrictions and
short this we it’s opportunity, operators executive of also Having learned lot weeks is at and our we've from club said team levels, capable last an a of nothing what see in the center accomplishing. all distribution the six our everyone Everyone that, to team about as inspiring.
resolve times of on members of has Our and A And this. commitment a to us as trusted members talent who really our good. have us team especially a on families like tremendous to company. and loyal depend this count lot in we to source
covered position to And future. seize and lot we and family opportunity us propel progress to of fronts our your carry several and ground intend ourselves you business this on from stay of will call chapter this long this and for to challenge treating we're that healthy. already a action. as a after on the made is lot ends. So, I'm forward the We've rising a hoping forward safe
Michael. turn now to over I'll this
