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Same-store sales down at Rite Aid in November
December 2nd, 2010
CAMP HILL, Pa. – Rite Aid Corp. saw same-store sales slip in November versus a year ago, as soft cold and flu-related business continued to affect results.
The drug store chain said Thursday that for the five weeks ended Nov. 27, overall same-store sales fell 1.3%. That was better than the 1.7% decrease recorded in October but continued a stretch of same-store declines from early this year.
Same-store sales rose 1.3% in the front end yet dropped 2.5% in the pharmacy during November, according to Rite Aid. The company noted that pharmacy same-store results reflect an approximate 248-basis-point negative impact from new generic drug introductions. Prescriptions filled at comparable stores decreased 1.9% from the prior-year period.
As in October, both fron-end and pharmacy same-store sales during November were negatively impacted by a weaker cough, cold and flu season compared with the same period last year.
Total drug store sales for the five-week period came in at $2.37 billion, down 2.3% from $2.4e billion a year earlier. Quarterly Sales
For the 13-week third quarter ended Nov. 27, same-store revenue decreased 1.3%, including flat results in the front end and a 1.9% decline in the pharmacy. Prescriptions filled at comparable stores fell 1.7%. Overall drug store sales for third quarter were down 2.3% to $6.18 billion from $6.3e billion a year ago.
Same-store sales for the 39-week year-to-date period dipped 1.3%, reflecting decreases of 0.7% in the front end and 1.5% in the pharmacy. Prescriptions filled at comparable stores fell 1.8% from a year earlier. Total drug store sales for year to date dropped 2.3% to $18.69 billion from $19.13 billion in the prior-year span.
Rite Aid said that as of Nov. 27, the company operated 4,731 drug stores, compared with 4,801 stores a year before.