Walgreens, Rite Aid miss expectations in February

New York City -- Walgreens said Thursday its same-store sales in February rose 3.1%, but the growth was slower than Wall Street expected. Analysts expected, on average, expected a 3.5% increase.



The company said pharmacy same-store sales rose 2.7% but were hurt by generic drug introductions over the last year. Non-pharmacy, or front-end, revenue increased 3.8%.



Rite Aid Corp. said Thursday that its same-store sales rose 1% in February, less than the 1.5% increase analysts had predicted.



Pharmacy revenue increased 0.9% and front-end revenue rose 1.1%.