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Rite Aid Reports 1.0 Percent Same Store Sales Increase for January

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  Published in Stocks and Investing on Thursday, January 29th 2009 at 10:13 GMT, Last Modified on 2009-01-29 10:14:22 by Market Wire

CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE:RAD) today announced sales results for January.

Monthly Sales

For the four weeks ended January 24, 2009, same store sales increased 1.0 percent over the prior-year period. Front-end same store sales decreased 0.1 percent while pharmacy same store sales, which included an approximate 281 basis point negative impact from new generic introductions, were up 1.5 percent.

For the four weeks ended January 24, 2009, same store sales excluding the acquired Brooks Eckerd stores, increased 2.1 percent over the prior-year period with front-end same store sales increasing 0.1 percent and pharmacy same store sales increasing 3.1 percent.

For the four weeks ended January 24, 2009, same store sales at the acquired Brooks Eckerd stores declined 1.1 percent over the prior-year period with front-end same store sales decreasing 0.6 percent and pharmacy same store sales decreasing 1.3 percent.

Total drugstore sales for the four-week period decreased 0.9 percent to $1.978 billion compared to $1.996 billion for the same period last year. Prescription revenue accounted for 69.3 percent of drugstore sales, and third party prescription revenue represented 96.0 percent of pharmacy sales.

Year-to-Date Sales

Same store sales for the 47-week period ended January 24, 2009 increased 1.0 percent, consisting of a 1.3 percent front-end same store sales increase and a 0.8 percent increase in pharmacy same store sales. Year-to-date same store sales include 34 weeks of the acquired Brooks Eckerd stores.

Total drugstore sales for the 47 weeks ended January 24, 2009 increased 8.9 percent to $23.636 billion from $21.706 billion in last year's like period. Prescription revenue accounted for 67.2 percent of total drugstore sales, and third-party prescription revenue was 96.3 percent of pharmacy sales.

Rite Aid is one of the nation's largest drugstore chains. On January 24, 2009, the company operated 4,907 stores compared to 5,054 stores in the like period a year ago. Information about Rite Aid, including corporate background and press releases, is available through the company's website at [ http://www.riteaid.com ].