Rite Aid's May sales drop

CAMP HILL , Pa. (Jun. 3) Rite Aid reported a decline in its same-store monthly sales.

The Camp Hill, Pa.-based drug store chain said its May same-store sales dropped 1.7%, compared with May 2009. Conversely, May front-end same-stores sales decreased 3.6% while pharmacy same store sales, which included an approximate 124 basis points negative impact from new generic introductions, declined 0.8%.

Rite Aid also reported a loss for its drug store sales, decreasing 2.7% to about $2.44 billion, compared with $2.51 billion in the same period last year.

On May 29, the company operated 4,767 stores compared with 4,825 stores in the like period a year ago.