Retail News Breaks Archives
October same-store sales tail off at Rite Aid
October 29th, 2009
by Russell Redman
CAMP HILL, Pa. – With weak front-end business and near-flat pharmacy sales, Rite Aid Corp. saw same-store revenue dip in October.
The drug store chain said Thursday that same-store sales fell 0.5% year over year for the four weeks ended October 24. That represented the retailer's fifth straight month of same-store decreases. In September, same-store revenue tailed off 0.3%.
During October, same-store sales declined 2.7% in the front end of the store but edged up 0.5% in the pharmacy. Rite Aid noted that the pharmacy results reflected an approximate 200-basis-point negative impact from new generic introductions. Prescriptions filled at comparable stores rose 1.8%.
Total drug store sales for the four-week period were down 1.7% to $1.96 billion from nearly $2 billion a year earlier, according to Rite Aid.
For the 34 weeks ended October 24, Rite Aid's same-store sales decreased 0.3%, including a 3.1% decline in the front end and a 1.1% rise in the pharmacy. Overall drug store revenue in the period was down 1.9% to about $16.71 billion from $17.03 billion a year earlier.
As of October 24, Rite Aid operated 4,807 stores, compared with 4,920 stores a year ago.