Retail News Breaks
Rite Aid reports same-store sales gain for July
August 1st, 2013
CAMP HILL, Pa. – Rite Aid Corp. saw comparable-store sales climb for the second straight month in July.
The drug chain said Thursday that for the four weeks ended July 27, comp-store sales edged up 1.3% year over year. That continued the retailer's improving same-store sales results in recent months, including a 0.7% gain in June.
In the front end, same-store sales were up 0.7% in July. Comparable pharmacy sales for the month grew 1.6%, reflecting a negative impact of 307 basis points from introductions of new generic drugs, which carry lower prices but have higher profit margins.
Prescription count at comparable stores inched up 0.4% over the prior-year period, Rite Aid reported.
Overall drug store sales in July were up 0.9% to $1.898 billion from $1.881 billion a year earlier. Prescription sales represented 67.7% of drug store sales.
For the 21 weeks ended July 27, same-store sales dipped 1.2%, including a 0.4% gain in the front end and a 1.9% decrease in the pharmacy, according to Rite Aid. Prescriptions filled at comparable stores were flat compared with the year-ago period.
Total drug store sales for the 21 weeks fell 1.5% $10.089 billion from $10.247 billion in the prior-year period. Prescription sales accounted for 67.5% of drug store sales in the period.
As of July 27, Rite Aid operated 4,611 drug stores, compared with 4,646 stores a year earlier.
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