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Rite Aid's same-store sales decrease in July
July 29th, 2010
CAMP HILL, Pa. – Same-store sales at Rite Aid fell during July, with results down in both the pharmacy and the front end.
The drug store chain said Thursday that for the four weeks ended July 24, same-store sales decreased 1.1 percent year over year. The result represented an improvement over the previous month but marked the fourth consecutive month of same-store decreases, following declines of 2.5% in June, 1.7% in May and 1% in April.
In July, same-store sales dipped 0.5% in the front end and 1.4% in the pharmacy. Rite Aid noted that pharmacy same-store results included a 197-basis-point negative impact from new generic drug introductions. Prescriptions filled at comparable stores fell 1.5% over the prior-year period.
Total drug store sales for July, meanwhile, decreased 2.2% to about $1.89 billion from $1.93 billion in the prior-year period.
For the 21-week year-to-date period ended July 24, same-store sales were down 1.3%, reflecting decreases of 1.1% in the front end and 1.4% in the pharmacy. Prescriptions filled at comparable stores decreased 2.1% versus a year earlier.
Overall drug store sales for the year to date dropped 2.4% to $10.16 billion from $10.41 billion in the year-ago span.
As of July 24, Rite Aid operated 4,751 stores, compared with 4,817 stores in the like period a year ago.