Rite Aid reports 0.5% monthly comps drop
CAMP HILL, Pa. Rite Aid today announced that for the four weeks ended Dec. 29, 2007, same-store sales decreased 0.5% over the prior-year period. Pharmacy same-store sales were flat, which included an approximate 443 basis points negative impact from new generic introductions. Front-end same store sales decreased 1.2%.
The company reported total drug store sales for the four-week period increased 47.5% to $2.2 billion compared to $1.49 billion for the same period last year. Prescription revenue accounted for 61.8% of drug store sales, and third party prescription revenue represented approximately 96.1% of pharmacy sales.
Same-store sales for the 43-week period ended Dec. 29, 2007, increased 1.2%, consisting of a 1.6% pharmacy same-store sales increase and a 0.4% increase in front-end same-store sales.
Total drug store sales for the 43 weeks ended Dec. 29, 2007, increased 37.1% to $19.71 billion from $14.37 billion in last year’s like period. Prescription revenue accounted for 66.4% of total drug store sales, and third party prescription revenue was approximately 95.% of pharmacy sales.