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Rite Aid sees same-store sales tail off in March
March 31st, 2011
CAMP HILL, Pa. – After three consecutive months of increases, Rite Aid Corp. posted virtually flat same-store sales for March.
The drug store chain said Thursday that for the four weeks ended March 26, same-store sales dipped 0.1% versus a year earlier. Comparable-store sales had risen 1% in February, 1.1% in January and 0.6% in December.
During March, same-store sales in the front end declined 1.8%, negatively impacted by a later Easter this year compared with last year (April 24 versus April 4), according to Rite Aid.
In the pharmacy, same-store sales were up 0.8% in March. Rite Aid said the pharmacy result reflects a 176-basis-point negative impact from new generic drug introductions. The prescriptions count at comparable stores edged up 0.6% over the prior-year period.
Total drug store sales for March slipped 0.9% to nearly $1.95 billion, compared with about $1.97 billion a year ago, Rite Aid said.
As of March 26, Rite Aid operated 4,711 stores, compared with 4,777 stores a year earlier.