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Rite Aid's same-store sales stay on growth path
February 2nd, 2012
CAMP HILL, Pa. – Gains in both the front end and pharmacy propelled Rite Aid Corp. to another month of increased same-store sales in January.
Rite Aid said Thursday that for the four weeks ended Jan. 28, comparable-store sales climbed 2.2% from a year earlier. That fell short of the 3.6% comp-store sales gain in December — the drug chain's largest in 2011 — but continued the retailer's resurgence in monthly same-store sales growth.
In January, front-end same store sales rose 2.7%. Pharmacy same-store sales were up 2.1% and reflected an approximate 230-basis-point negative impact from generic drug introductions, according to Rite Aid. Prescription count at comparable stores grew 1.6% versus a year ago.
Total drug store sales in January edged up 1.6% to $1.92 billion from $1.89 billion in the prior-year period. Prescription sales accounted for 70% of drug store sales, Rite Aid reported.
For the nine weeks ended Jan. 28, same-store sales advanced 3% year over year, including increases of 1.4% in the front end and 3.8% in the pharmacy. Prescription count at comparable stores was up 2.5% in the period. Total drug store revenue for the quarterly year-to-date period rose 2.6% to nearly $4.57 billion, with prescription sales accounting for 66.9% of total drug store sales.
Meanwhile, same-store sales for the 48-week year-to-date period grew 1.9%, reflecting gains of 1% in the front end and 2.3% in the pharmacy. Prescriptions filled at comparable stores increased 0.8%. Overall drug store sales for the 48 weeks increased 1.4% to about $23.47 billion. Prescription sales accounted for 68.1% of total drug store revenue in the period.
Rite Aid said that as of Jan. 28, the company had 4,672 stores, compared with 4,718 stores a year earlier.