Retail News Breaks Archives
August same-store sales dip at Rite Aid
September 2nd, 2010
CAMP HILL, Pa. – Rite Aid Corp. turned in soft same-store sales for August as results dipped in the pharmacy and the front end.
The drug store chain said Thursday that for the five weeks ended Aug. 28, same-store sales fell 1% year over year, slightly less than the 1.1% decrease in July. Still, the result represented the retailer's fifth straight month of declined same-store sales.
In August, same-store sales were down 0.9% in the front end and 1% in the pharmacy, according to Rite Aid. The pharmacy result reflects an approximate 225-basis-point negative impact from new generic drug introductions, the retailer noted. Prescriptions filled at comparable stores decreased 1.2% over the prior-year period.
Overall drug store sales for the five-week period tailed off 2.2% to $2.34 billion from nearly $2.40 billion a year earlier.
For the 13-week second quarter ended Aug. 28, same-store sales decreased 1.5%, including declines of 0.9% in the front of the store and 1.8% in the pharmacy, Rite Aid reported. Prescriptions filled at comparable stores decreased 2.1% versus a year ago. Meanwhile, total drug store sales for the quarter fell 2.5% to $6.14 billion.
Rite Aid said that for the 26-week year-to-date period, same-store revenue slipped 1.2%, reflecting decreases of 1.1% in the front end and 1.3% in the pharmacy. Prescriptions filled at comparable stores fell 1.9%. Total year-to-date drug store sales came in at $12.51 billion, down 2.3% year over year.
As of Aug. 28, Rite Aid operated 4,747 stores, compared with 4,812 stores in the year-ago period.