Retail News Breaks Archives
Rite Aid sees same-store sales dip in June
July 5th, 2012
CAMP HILL, Pa. – Comparable-store sales were down at Rite Aid Corp. in June, marking the drug chain's first monthly decrease in more than a year.
Rite Aid said Thursday that for the four weeks ended June 30, same-store sales declined 1% year over year. That was down from a 1.1% gain in May, and the retailer hadn't reported a monthly comp-store sales decrease since March 2011, when same-store results dipped 0.1.%.
In June, same-store sales edged up 0.3% in the front end but fell 1.6% in the pharmacy. Rite Aid noted that comparable pharmacy sales reflect a negative impact of 672 basis points generic drug introductions. Prescriptions filled at comparable stores rose 2.9% during the month.
Overall drug store sales in June came in at $1.924 billion, down 1.6% from $1.955 billion in the prior-year period. Prescription sales represented 67.4% of drug store sales.
For the 17-week year-to-date period ended June 30, comp-store sales rose 1.7%, including gains of 2.1% in the front end and 1.4% in the pharmacy. Prescription count at comparable stores grew 3%.
Total drug store sales for the year to date were up 1% to $8.365 billion from $8.284 billion a year earlier. Prescription sales accounted for 68.2% of overall drug store sales.
As of June 30, Rite Aid operated 4,648 drug stores, compared with 4,703 stores in the year-ago period.