CAMP HILL, Pa. — Solid pharmacy results helped lift Rite Aid Corp. to a year-over-year gain in same-store sales for August.
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Rite Aid said Thursday that for the five weeks ended Aug. 30, comparable-store sales rose 3.9%, in line with increases earlier this summer of 4.6% in July and 3.9% in June.
For August, comp-store sales in the front end edged up 1.1%. Comparable pharmacy sales gained 5.2%, reflecting a negative impact of 219 basis points from introductions of new generic drugs, which carry lower prices but higher profit margins than their brand-name counterparts.
Prescriptions filled at comparable stores were up 3.7% in August, according to Rite Aid.
Overall drug store sales for August came in at $2.515 billion, up 3.7% from $2.425 billion a year earlier. Prescription sales represented 69.3% of drug store sales.
In a preview of its fiscal 2015 second-quarter results, Rite Aid said same-store sales for the 13 weeks ended Aug. 30 rose 4.1% year over year, including gains of 1.1% in the front end and 5.6% in the pharmacy. Prescription count at comparable stores grew 3.7%.
Total drug store sales for second quarter increased 3.7% to $6.485 billion from $6.250 billion in the year-ago quarter. Prescription sales accounted for 68.8% of overall drug store sales.
Rite Aid also reported increased sales for its fiscal 2015 first half. Comp-store sales for the 26-week period were up 3.6% versus the prior-year period, reflecting gains of 0.6% in the front end and 5.1% in the pharmacy. Script count at comparable stores rose 3%.
Overall drug store sales for the first half were $12.910 billion, up 3.2% from $12.514 billion a year earlier. Prescription sales represented 68.6% total drug store sales.
As of Aug. 30, Rite Aid operated 4,572 drug stores, compared with 4,604 stores in the year-ago period.
