Rite Aid Corp. maintained an improving comparable-store sales trend in August, posting its third consecutive month of gains.


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August comp-store sales rise at Rite Aid

September 5th, 2013

CAMP HILL, Pa. – Rite Aid Corp. maintained an improving comparable-store sales trend in August, posting its third consecutive month of gains.

The drug chain said Thursday that for the five weeks ended Aug. 31, same-store sales edged up 1.1% year over year. That compared with a 1.3% comp-store sales increase in July and a 0.7% uptick in June.

In the front end, same-store sales fell 1.7% for August. Comparable pharmacy sales, however, grew 2.5% for the month, despite a negative impact of 161 basis points from introductions of lower-priced generic drugs, according to Rite Aid.

Prescriptions filled at comparable stores dipped 0.2% from the prior-year period.

Total drug store sales in August were up 1.1% to nearly $2.43 billion from almost $2.40 billion a year earlier. Prescription sales represented 68.4% of drug store sales.

For the 13 weeks ended Aug. 31, same-store sales grew 1% versus a year ago, reflecting a 0.3% decrease in the front end and a 1.7% increase in the pharmacy. Prescription count at comparable stores in the quarter was flat year over year, Rite Aid reported.

Overall drug store sales for the quarter inched up 0.7% to $6.25 billion. Prescription sales accounted for 67.9% of total drug store revenue in the period.

In the 26-week year-to-date period ended Aug. 31, Rite Aid's comp-store sales declined 0.8% year over year, reflecting flat results in the front end and a 1.1% decrease in the pharmacy. Script count at comparable stores dipped 0.1%.

Drug store sales for the half-year period fell 1% to more than $12.51 billion, with prescriptions representing 67.7% of total drug store revenue for the 26 weeks.

As of Aug. 31, Rite Aid operated 4,604 drug stores, compared with 4,643 stores a year earlier.

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