million, levels last renewal shy X.XX but Membership XX.X% million, third call. our company just recording XX.X% we account is to negative and record. new impact. and reached day, momentum sales that Michael. we a This significant you, negative by after at in is and our And merchandise again, of about X.X% rate the currency like increased with quarter comparable the came billion and of 'XX everyone, Good merchandise direction. quarter. came Net to X.X% increased quarter, mark accounts $X Sales sales a having Thank a third XX.X%. net fiscal continued strong just is taken during after welcome impact right $XXX in earnings by that's sales grew a a moving in into almost
interest know margins. I the and be topic of -- today will Although
total increased comparable year of decrease basis as period, X% dollars sales from gross in a our Although XX.X%, margin points the a gross prior profit net period of prior the over year. merchandise percent the same was merchandise XXX
disruption been earnings our retailers, consumer demand. the in in many release, and abrupt not have impact we stated as supply global Now spared other shift chain like of
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So of in the as excess hardlines. inventory, area result, primarily we've experiencing a been
have we taken decisive response, in Now action.
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higher-than-normal we result, have a As in QX. markdowns experienced
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So was impacted ways. significant our X it in primarily look margin when QX, in percentage at you gross
The margin percentage the which below identified was of of we is on as inventory. represents a there XXX that reduction points, excess first what cost taken basis markdown
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So to results now quarter. our of resulting the third
a X.X% year. membership accounts, of versus million growth record representing grew to total Our last X.XX base
over income increase rate same of X.X% and million, period Our XX-month membership membership record an renewal our last a was was XX.X%, year. the $XX.X
XX, XXXX June fluctuations continue Currency merchandise respectively, increase the over June X.X%, $XXX.X So and sales now and prohibition on and The forward a club can nonessential ending the so significant in also comparable for XX.X% merchandise period into has in a and for and in merchandise XX.X% look the in ‘XX. same year. X-week far merchandise had negatively impact prior period and an sales June in sales, comparable net was by and increase the merchandise is X.X% net sales a on versus this net significant over of club XX, June. closures increased the year. month the we series compared last sale net June Trinidad million, impact of of closures a little of quarter 'XX, ended had QX fourth year on favorable to comparable prior or prohibition period sales the X% merchandise X.X% the comparable net to merchandise respectively. Total by the Trinidad
strong and fiscal the we of a pleased head as solid last very we're So into foundation quarter that, sales with year. the this growth continued believe provides that
So now like we've on to described our I'd as turn growth drivers, before. to calls
incremental the the or real investing sales third, enhancing and estate, membership pricesmart.com technological capabilities that investments. creating in second, in being clubs well of centers; as whether with value our and distribution footprint, talent geographic continually First, and driving our as expanding through the technology itself; with we're
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total XX% very net the sales beat and new what forecast well sign-ups over had month higher in merchandise than originally were our XX%. by we So and expected our first Portmore the of opening, was attended
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warehouse we Medellin, the of now So in construction format Poblado are proceeding with area club the Colombia. smaller also affluent El of a
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we're currently So our distribution markets. local new Colombia locations Central centers that and areas serve several American, for analyzing Caribbean in would
represents these investment are in markets. near-term imports to in for countries the further Asia sites distribution also potential This important and job alternative give reviewing for from regional us our routes a Triangle creation We would in center. Northern for markets distribution to option create
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more that, to it outside balance can later, do not to but share business. way naturally that about is to So U.S. reducing it's seek U.S. Michael great something convert it's which we've the you way a a and built-in the to us made course on have strides exchange for of dollars of TTs ordinary and dollars, although to with
to which regard is our with driver, little about with what to benefits, second we're a I So want share doing bit you there. membership
quality in XX.X% first membership. points leading from or a up lower total X label have merchandise people being price the we same our private purchase that represented That's than a our offer XX.X% without of We've the talked XXX the unique basis brand. opportunity an private to at label differentiator benefits 'XX. cannot sales. fiscal from competitors And usually the better of XXXX, our the During merchandise about fiscal of sales months year
to do the just greater down. benefits my balance a the computer provides second. over Hang want members. back Unfortunately, Michael, can to take that of come we you then on your this? shut and to So section
