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http://www.trinidadexpress.com/20170104/business/pricesmart-cuts-us-shipments-to-tt-by-20PriceSmart cuts US shipments to T&T by 20%*
...estimates losses from forex woes between $54m and $67m
Published on Jan 4, 2017, 6:11 am AST
By By Aleem Khan
WAREHOUSE shopping giant PriceSmart projected to lose between $54 and $67 million in sales in Trinidad in its second fiscal quarter due to ongoing foreign exchange (forex) woes, the company said in a filing with the United States’ Securities and Exchange Commission (SEC). PriceSmart’s current fiscal year ends August 31, 2017.
Explaining to shareholders its plan to cope with T&T’s forex situation, PriceSmart said that “until such time that the uncertain state of tradeable currency is resolved, we plan to take steps to limit our exposure. We plan to reduce new shipments of merchandise to Trinidad from our distribution centre in Miami to levels that generally align with our Trinidad subsidiary’s ability to pay for the merchandise in US dollars. Although the situation is dynamic, based on recent levels of tradeable currency available, we anticipate reducing US shipments to Trinidad by approximately 20 per cent over the next three months.
SR wrote:Shop around quite a few items are cheaper at other groceries
cherrypopper wrote:SR wrote:Shop around quite a few items are cheaper at other groceries
X20
SR wrote:Shop around quite a few items are cheaper at other groceries
Gladiator wrote:I think this is on the Govt's agenda to get rid of Pricemart. Their financiers are the competition.
On the contrary, if you shop around you would get a lot of items for much less at Pricemart. For example just for christmas I purchased an Oster mini Chopper for $150 at Pricemart, Massy has the same for $240
Kellogs and Cherios in the double packs are almost twice the price outside Pricemart
Cheese is very economical at Pricemart
Butter cost $5 less than any grocery, you have to buy 2
Canned foods are also cheaper; corn, tuna and sardines
They have the large Folgers coffee for the price the small one sells on the outside
And many more items...
Don't take this pricemart thing for granted. If they pull out a lot of small shops also closing down because they buy from them and sell over too. Same with some small restaurants also...
Gladiator wrote:I think this is on the Govt's agenda to get rid of Pricemart. Their financiers are the competition.
On the contrary, if you shop around you would get a lot of items for much less at Pricemart. For example just for christmas I purchased an Oster mini Chopper for $150 at Pricemart, Massy has the same for $240
Kellogs and Cherios in the double packs are almost twice the price outside Pricemart
Cheese is very economical at Pricemart
Butter cost $5 less than any grocery, you have to buy 2
Canned foods are also cheaper; corn, tuna and sardines
They have the large Folgers coffee for the price the small one sells on the outside
And many more items...
Don't take this pricemart thing for granted. If they pull out a lot of small shops also closing down because they buy from them and sell over too. Same with some small restaurants also...
wagonrunner wrote:duane. should thread title read "T&T saves $54-67m in forex expenditure"?
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