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Rite Aid sees flat same-store sales in May
June 4th, 2009
CAMP HILL, Pa. – May same-store sales were flat at Rite Aid Corp., which saw total revenue tail off during the month.
For the five weeks ended May 30, same-store sales rose 0.6% versus a year ago. Rite Aid said front-end same-store results fell 1.5%, while pharmacy same-store sales gained 1.6%. The latter included a 511 basis-point negative impact from new generic drug introductions, the company noted.
During the period, same-store sales excluding the acquired Brooks Eckerd stores increased 1.5%, reflecting a 1.1% decrease on the front end and a 3% rise in the pharmacy, according to Rite Aid.
Overall sales for the five-week period dipped 1.3% to $2.51 billion from $2.54 billion a year earlier. Prescription revenue represented 67.7% of sales, and third-party prescription revenue accounted for 96.2% of pharmacy sales, the drug store chain said.
For the 13-week quarter ended May 30, Rite Aid's same-store sales were up 0.6% over the prior-year period, with a 1.6% decrease on the front end and a 1.6% uptick in the pharmacy. Excluding the acquired Brooks Eckerd stores, same-store sales in the quarter climbed 1.5%, including a 1.4% decline on the front end and a 3.1% gain in the pharmacy.
Rite Aid said that total sales for the 13 weeks fell 1.2% to $6.51 billion from $6.59 billion a year ago. Prescription revenue represented 68.2% of total sales, and third-party prescription revenue was 96.3% of pharmacy sales.