Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, October 28, 2010 Rite Aid Reports 1.7 Percent Same Store Sales Decrease for October
CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE: RAD) today announced sales results for October.
Monthly Sales
For the four weeks ended October 23, 2010, same store sales decreased 1.7 percent over the prior-year period. October front-end same store sales decreased 1.3 percent while pharmacy same store sales, which included an approximate 242 basis points negative impact from new generic introductions, declined 1.8 percent. Prescriptions filled at comparable stores decreased 1.9 percent over the prior-year period.
Both front end and pharmacy same store sales were negatively impacted by a significantly weaker cough, cold and flu season compared to the same period last year.
Total drugstore sales for the four-week period decreased 2.7 percent to $1.909 billion compared to $1.962 billion for the same period last year. Prescription revenue accounted for 68.5 percent of drugstore sales, and third party prescription revenue represented 96.2 percent of pharmacy sales.
Year-to-Date Sales
Same store sales for the 34-week period ended October 23, 2010 decreased 1.3 percent over the prior-year period. Front-end same store sales were down 1.0 percent while pharmacy same store sales decreased 1.4 percent. Prescriptions filled at comparable stores decreased 1.8 percent over the prior-year period.
Total drugstore sales for the 34 weeks ended October 23, 2010 decreased 2.3 percent to $16.316 billion compared to $16.706 billion in last yeara™s like period. Prescription revenue represented 68.3 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 October 23, 2010, the company operated 4,735 stores compared to 4,807 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 ].
