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Rite Aid Reports 1.1 Percent Same Store Sales Decrease for July

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  Published in Stocks and Investing on Thursday, July 29th 2010 at 5:51 GMT by Market Wire
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CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE:RAD) today announced sales results for July.

Monthly Sales

For the four weeks ended July 24, 2010, same store sales decreased 1.1 percent over the prior-year period. July front-end same stores sales decreased 0.5 percent while pharmacy same store sales, which included an approximate 197 basis points negative impact from new generic introductions, declined 1.4 percent. Prescriptions filled at comparable stores decreased 1.5 percent over the prior-year period.

Total drugstore sales for the four-week period decreased 2.2 percent to $1.886 billion compared to $1.929 billion for the same period last year. Prescription revenue accounted for 68.1 percent of drugstore sales, and third party prescription revenue represented 95.7 percent of pharmacy sales.

Year-to-Date Sales

Same store sales for the 21-week period ended July 24, 2010 decreased 1.3 percent over the prior-year period. Front-end same store sales were down 1.1 percent while pharmacy same store sales decreased 1.4 percent. Prescriptions filled at comparable stores decreased 2.1 percent over the prior-year period.

Total drugstore sales for the 21 weeks ended July 24, 2010 decreased 2.4 percent to $10.163 billion compared to $10.408 billion in last yeara™s like period. Prescription revenue represented 68.1 percent of total drugstore sales, and third party prescription revenue was 96.2 percent of pharmacy sales.

Rite Aid is one of the nationa™s largest drugstore chains. On July 24, 2010, the company operated 4,751 stores compared to 4,817 stores in the like period a year ago. Information about Rite Aid, including corporate background and press releases, is available through the companya™s website at [ http://www.riteaid.com ].