after second Robert. merchandise you, an net taking comparable negative impact XX.X% both merchandise with negative and exceeding sales Thank a Net increased and We by into billion. total increased currency account sales impact. X.X% merchandise net $X.X after sales quarter X.X% had X.X% currency outstanding revenues by a
By in region. XX% segment, XX net merchandise XX.X% we clubs increase increased quarter-end, where merchandise sales net sales for had Central with at comparable in America, a that
net comparable positive sales had merchandise America Central in markets our growth. of All
region, sales merchandise year. Our approximately we where consolidated with the to XX of basis America a of where net merchandise at Central opened comparable had net impact exception X.X% points Jamaica, clubs sales last increased In Caribbean, for the segment and the XXX quarter-end, new positive contributed club we quarter. increased for our merchandise net XX.X% comparable total sales that
in segment All merchandise positive had growth. of net our sales markets this comparable
merchandise net open that XX.X% at positive and quarter-end, total of nine impact points for basis decreased decreased XXX to merchandise for had where comparable XX.X% we merchandise approximately contributed net sales consolidated quarter. comparable In region sales region. net the Caribbean Our Colombia, sales clubs
by negatively due sales sales sales merchandise approximately for impacted XXX to peso, the in net the of the impact quarter. decrease devaluation by during and merchandise basis contributed merchandise devaluation decreased points consolidated sales Colombian driven XX.X% the was primarily comparable to XX.X%. that net by Colombia significant significant in net total The merchandise Colombia, currency quarter The comparable net the of comparable negative foreign
In the terms the category other of year, merchandise XX%, same comparing second service our primarily foods bakery our categories, business quarter food and sales from the category XX%, our to when our grew non-foods period approximately our and category in departments. remained prior grew same
the versus accounts. X.X% grew million accounts X.XX to prior Membership year
year. basis for year over XXXX points with last merchandise sales income month strong our versus quarter XX $XX.X quarter to percentage as rates renewal same increased XXXX. gross second increase XX% XX XX.X% continue in membership the the second X.X% margin a of of XX% the of fiscal and We an of Total period was fiscal million, year of net
margin terms, various dollar approximately front-end the well was million basis food rate margin. our across improvement of such penetration quarter same of year. margin improvement prior XX categories other In versus the total bakery our increased from point increase $XX.X gross general and categories or as service business as and XX.X% from as A primarily fiscal
XX.X% increased the compared when period revenue margins. to to due total Total margins gross same increase XX basis total of points last year, in the to revenue primarily
margin compared first compression approximately we the quarters. our to forward, in XX% two gross Going rate expect margin total
from actions results QX. This we during expected margin several undertook compression
our COVID due our significantly have currency all US foreign liquidity. we in improved eliminated to premium reduced and premium in exchange dollar markets Trinidad First,
our in items XXXX, and the to year late second commodity margins prices the high costs of of of Colombia, strategically Second, reflect imported US steady fresh quarter we to instead as increasing items. these holding expect fiscal beginning to foods certain have rising in begun the pricing on categories we volume Colombia in decrease and
market remains members we economic to as growth expect significant provide economic actions to Colombia of continue possibly challenging key period and strategy high a which environment believe us other inflation continue this headwinds difficult devaluation. Inflation with as We for growth a and and see for future global will to foreseeable particularly our during significant currency value enable we currency for and fluctuations exchange tepid. the the macroeconomic foreign be combined
impact in result higher prices, demand Generally, foreign negatively merchandise. can higher which costs our inflation exchange for and
quarter of fiscal price per of to items increased second decreased period prior average per X.X%, X.X% item the average basket the same year. while the the compared year the approximately XXXX, For approximately
during quarter, our increased Also transactions prior grew X.X% the average sales period. same ticket the X.X% versus and year
best We are value can the providing committed to our to members. we
costs our pass reviewing are to efficiencies how and on We savings reduce constantly and members. to those
mentioned, reduced we Trinidad I premium COVID have premium. the the As FX eliminated and
to our our reductions In freight as come pricing addition, ensure merchandise are cost down, we are on adjusting to these rates members. have passed
saw shipping costs quarter during averaged QX, from which the relief $X,XXX quarter. on during freight Trans-Pacific on down approximately our we last For continued example, rates, container per $X,XXX
with the from points of expenses is Additionally, XXXX. of decreased Officer, points as $X.X to Asia $X.XX. Executive our during average XX to this we second days the from or Distribution million days revenue. our fiscal by the in basis contributor increase which impacted to took basis XX a Center inbound percentage days Miami SG&A loaded The increased our quarter of XX former transit to for in the charge the first total XX separation the by EPS Chief negatively relating primary quarter quarter merchandise containers during quarter
XXXX. X.X% due the X.X% point of of two fiscal primarily decreased for fiscal General second year XX of factors. and decrease quarter The quarter for total compared expenses the year is revenue administrative basis to to to second XXXX,
the of of compensation First, total absence increased compared administrative the expense impact expenses per or from former approximately general the leveraging second, compensation and million savings revenues when of $X.XX to $X.X share and our CEO. of diluted
prior will compensation receive quarter As positively Interim million by as disclosed, periods not approximately expenses CEO. basis, savings his CEO. previously selling, under his we Robert and has impacted $X.X to general of on go for we administrative a to compared elected Interim Therefore, term CEO Price expect as each during forward be role our
from local Rica, impact had income currency of year the for dollar our increased appreciation in assets XX.X% due expense of primarily revaluation primarily our currency losses to period was monetary assets the negative last of driven Costa a of liabilities denominated from Operating million $X.X the on and million. of Other foreign same $X.X $XX.X several by where there. million the to quarter markets, monetary US
associated $X.X we currencies. converting addition, transaction of In available Trinidad tradable into with dollars million costs had
tax year our costs ago, a effective in fiscal quarter came the the result to primarily second XX% associated of XXXX of for than separation tax versus Our as of the related rate higher departure CEO. former at a XX% year last impact with
to annualized $X.XX tax was in effective basis, a XX% second of the per Net or prior rate period. fiscal share year go the million compared share XXXX quarter On to income comparable diluted XX%. $X.XX $XX.X per of $XX.X for estimate million we or diluted an forward
diluted of quarter XXXX adjusted second million, the Adjusted $XX.X per net income an $X.XX for year was fiscal or share.
and reconciliation a XX-Q, which adjusted at our available of earnings on measurement press in You website are both non-GAAP our investors.pricesmart.com. release Relations of our find and released afternoon Investor can yesterday our were earnings
to cash period. net activities February for prior million. for perspective, net same on operating restricted cash activities cash months million used totaling equivalents six $XXX.X a the cash balance the ended the totaled XXth, XXXX, by our cash, $X.X Moving cash and sheet, and ended quarter with strong totaled year operating flow we From in provided million $XXX.X
of of ended accounts payable XXXX, compared flow cash February in inventory to six same Shifts year from million and working generated the capital same prior million changes club in period. our and $XXX.X second XX% days merchandise months quarter in for six Average XXth, the the decreased inventory days on contributed positions period fiscal for per XXXX. or hand approximately inventory by XXXX year versus or decreased approximately X% $X.X the by
for primarily ended same of result increased the from increased months a in use the financing a Net $XX.X borrowings compared the year by XXXX in compared by Net activities of a a months primarily cash used investing period by million activities February February net our during prior ago. decrease shifts of as the ended six proceeds cash six short-term short-term month to XXth, to investments. year, XXXX XXth, million of $XX.X result as used six
are with or El We have currently city have our to growth which first In club in numbers for similar San now warehouse Salvador clubs. of opening we Miguel. of is soon we clubs pallet under to larger interesting May, opening. square will us of smaller with the the as redesigned club Starting club our preparation construction footage Turning will that drivers. accommodate a enables third or positions to four in feature open estate. in An selling expect real layout our be that this it
of addition, In warehouse proceeding in of with affluent El the Medellin, Poblado Colombia. club are area a construction we the
warehouse warehouse later club our XXth and company's be We open which club, second will in expect the this year. to Medellin in Colombia club this
in is Guatemala, of club built land in south completed City. XXXX. the a a for our XX club miles of This and club open the approximately to recently City acre our anticipated will located property nearest the Guatemala warehouse and fall lease in plans We of five open be of to have sixth in on Capital Escuintla,
a acre built early anticipated to located are in Salvador, We will west Once we'll we as have nearest be warehouse to also are and and warehouse club on five the City XX San well. XXXX. the also Ana, land clubs This purchased fourth locations the approximately exploring from El of open additional new planned in operating miles open actively Capital and these club is Santa in XX in open, property Salvador. our club of clubs four be
in expanding and San remodeling one of currently are Salvador, clubs El Salvador. our we Finally,
Our real and risk. estate reducing on for focuses supply distribution important efficiencies facilities optimizing role chain our the of also strategy
We clubs locations selling several the actively facilitate space maximize to markets e-comm and to in of the order center and distribution continue frequency seek flow create for new alternatives of in merchandise, our fulfillment.
to membership value. now Turning
selection Our private the we membership. members value increasing great a of of example products label are our how are
inflation, in a especially high alternative products feeling provide instance, costs. For high quality members, of for these these of our rising the pressure times
year months XXXX. of XXX in our merchandise period from basis the label comparable up total year XX.X% XXXX, XX.X% represented During points of first fiscal That's sales the of sales. six fiscal our private
and Our by with membership We our continue of XX we open a how pharmacy, fiscal optical which optical, include enhance focus of year. offerings, to wellness audiology have the XX centers be currently to end the expect and value. locations have
XX,XXX performed Our during optical eye and four membership, free program with exams exams every quarter. almost provides we the eye
we have to Optical Through partnership y Philanthropies schoolchildren. XX,XXX an contributor X,XXX screenings, with eyeglasses our is local social responsibility Aprender to communities. program, approximately important local exams and Price also Crecer our provided X,XXX
XXX,XXX with X.X inception students, packages In and y since XXXX, Crecer million addition, to X along school supply more million program's the has in books Aprender to books libraries. donated than school
in We pharmacies of of our clubs warehouse program. eight this opened Costa and all are Panama. our in have in with proud warehouse in two clubs have currently association Rica We pharmacy
we open the respect in audiology XX XX XXXX. of at operated With an we centers, to XXXX, centers additional and XXth, end February fiscal expect to
our Our options our in third our sales for all website. shopping our both growth driver our in reflects app and omni-channel is on digital which members, desktop channels,
to delivery We currently utilize other PriceSmart.com and sales. third-party drive our services last app mile online
increased second the period PriceSmart.com the sales represented company. sales, XX% record X.X% merchandise the prior quarter, total of versus During in year for total same and a the
value Total prior increased year XX.X% increased orders the transaction period. and XX.X% the versus average
online invest base this PriceSmart.com XX.X% channel As we created our enhanced of our experience has omni-channel had members. of February approximately our in PriceSmart.com. opportunities believe a and XX.X% part on will additional an that to XXth, profile with an made in provide to purchase of continue growth XXXX, significant our membership total value are digital members and of to there business our and We
period. benefit also of to renewal enrolled It our of membership facing component predictable, prior X.X% the is sales. points accounts for X.X% we're lot from that that are year allows that reliable obviously great comparable is unpredictable option This in in which where of a is our basis auto income more something up variables option, is impact encouraging become which a more XXX a renewal climate and of our in our
is our the to Environmental practices primary and business and and we responsibly use social continues efforts improve aim of that responsibility important focus to actions how those an social component company's well-being. natural resources a and be approach of
in consume food Guatemala, and intention the fully are banks. to the Colombia that company For quarters. programs in work with to Rica currently over to to instance, merchandise and in where donates Costa we We Network, Banking Salvador, continue with Global the El few Food place begin but operational, participating have the Nicaragua non-sellable Panama next safe
bank operations Caribbean. looking also are food for We appropriate in the
we find more regards Loved Most social and can has In a certified philanthropic Workplace. PriceSmart.org. information proud announce as corporate to are about well-being, efforts social PriceSmart's You on PriceSmart responsibility that been to
benchmark employee Most global worldwide employers and is Loved certification a Workplace for and by exceptional and recognized employees The experience. identifying has recognizing
hard it dedication We our that all are there have no of without this is deserve positivity. thrilled could and designation we that employees and agreed we their achieve way work,
and the excited given pillars one in the in that Our vibrant to of culture is XXXX. built Second This Colombia follow. been recognized we as us has for on ranked Similarly, the has been PriceSmart Best has Company retail very the we values of within ingrained Colombia by Computrabajo, are core Work culture to which Workplaces us as the recognition Best sector.
as who commitment our company extraordinary This Best for want being two employee philosophy and Colombia of Work. our position to one country ranking part We congratulate years. people-first this consecutive PriceSmart for experience in highlights recognition reaffirms great of the we have Places and people to offer a to a the our leaders
the sales currency repeat we currently includes XXXX Xnd, markdowns. X.X%. weeks year expect net ended to had X.X%, which impact were do and a merchandise due last into up forward We merchandise QX QX, significant positive QX our four of not for the Looking compression margin comparable to in April
COVID strategic I our Trinidad However, Colombia. premium margin the pricing earlier, our premium elimination our quarters to FX of some two due compression described compared in we to first expect as of do and reduction decisions
partially Finally, as Price's by margin will term that the compensation Interim compression CEO. lack we of CEO during expect do this be offset Robert
Six challenges philosophy remain deliver and best founders to original while we doing to the value Rights and our Merchandising, be our members. on our nimble, closing, committed the of take innovative best to of to In the and
it and joining are another for We the today. quarter our team Thank members call who of proud successful make possible. all you
the I questions. now over questions. our will may Operator, start take to turn the taking now your to call callers operator you
