PriceSmart (PSMT) stock is soaring 10.42% in Friday's trading session, building on its pre-market gains following the release of its impressive fiscal third-quarter financial results. The warehouse club operator, which focuses on Latin America and the Caribbean markets, reported better-than-expected revenue figures and demonstrated solid sales growth, exciting investors.

According to the company's latest financial report, PriceSmart's fiscal third-quarter sales showed a significant year-over-year increase. Most notably, merchandise sales, which constitute the majority of PriceSmart's top line, rose by an impressive 7% on a comparable basis. This strong performance in the core business segment has caught the attention of investors, contributing to the stock's significant rally.

The positive market reaction comes despite PriceSmart slightly missing earnings expectations. However, the company's ability to exceed analyst expectations on revenue and demonstrate robust sales growth appears to have overshadowed any concerns about the earnings miss. The strong revenue beat suggests that PriceSmart's expansion efforts and customer retention strategies in its Latin American and Caribbean markets are paying off, potentially setting the stage for continued growth in the coming quarters.