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Rite Aid Reports 1.3 Percent Same Store Sales Decrease for November

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  Published in Stocks and Investing on Thursday, December 2nd 2010 at 11:20 GMT by Market Wire
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CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE: RAD) today announced sales results for November.

Monthly Sales

For the five weeks ended November 27, 2010, same store sales decreased 1.3 percent over the prior-year period. November front-end same store sales increased 1.3 percent while pharmacy same store sales, which included an approximate 248 basis points negative impact from new generic introductions declined 2.5 percent. Prescriptions filled at comparable stores decreased 1.9 percent over the prior-year period.

Both front end and pharmacy same store sales continued to be negatively impacted by a weaker cough, cold and flu season compared to the same period last year.

Total drugstore sales for the five-week period decreased 2.3 percent to $2.370 billion compared to $2.425 billion for the same period last year. Prescription revenue accounted for 67.6 percent of drugstore sales, and third party prescription revenue represented 96.3 percent of pharmacy sales.

Quarterly Sales

Same store sales for the 13-week quarter ended November 27, 2010 decreased 1.3 percent over the prior-year period. Front-end same store sales were flat while pharmacy same store sales decreased 1.9 percent. Prescriptions filled at comparable stores decreased 1.7 percent over the prior-year period.

Total drugstore sales for the 13-week third quarter decreased 2.3 percent to $6.180 billion compared to $6.329 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.

Year-to-Date Sales

Same store sales for the 39-week period ended November 27, 2010 decreased 1.3 percent over the prior-year period. Front-end same store sales were down 0.7 percent while pharmacy same store sales decreased 1.5 percent. Prescriptions filled at comparable stores decreased 1.8 percent over the prior-year period.

Total drugstore sales for the 39 weeks ended November 27, 2010 decreased 2.3 percent to $18.686 billion compared to $19.131 billion in last yeara™s like period. Prescription revenue represented 68.2 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 November 27, 2010, the company operated 4,731 stores compared to 4,801 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 ].