PriceSmart (NASDAQ:PSMT), the operator of 54 warehouse clubs across 12 countries, has announced robust third-quarter fiscal 2024 results.

During the quarter, the company's net merchandise sales rose by 11.6% to $1.19 billion, up from the $1.07 billion reported in the previous year. This performance was further fueled by foreign currency exchange rate benefits of $27.3 million.

Additionally, operating income for the quarter increased to $49.9 million, compared to $43.1 million in the prior year.

Net income also saw a 9.9% boost, reaching $32.5 million, or $1.08 per diluted share.

Over the nine-month period ending May 31, 2024, PriceSmart's total revenue climbed to $3.69 billion, marking a 12% increase.