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Rite Aid feels Sandy's effect on November sales
December 6th, 2012
CAMP HILL, Pa. – Rite Aid Corp. saw same-store sales decrease in November as Hurricane Sandy and new generic drugs impacted front-end and prescription sales.
The drug chain said Thursday that for the five weeks ended Dec. 1, comparable-store sales fell 3% year over year. That was down from a 1.1% decline in October, when Sandy also impacted results, as well as from a 0.7% decrease in September.
Comp-store sales in the front end dipped 0.5% for November. In the pharmacy, same-store sales fell 4.2%, reflecting a negative impact of of 897 basis points from introductions of lower-priced generic drugs. Prescription filled at comparable stores rose 2.2% during the month.
Rite Aid estimated that Hurricane Sandy negatively impacted November same-store sales by 0.4% in the front end, while the storm negatively affected prescription count in the month by 1.5%.
Overall drug store sales for the five-week period declined 2.3% to $2.396 billion from $2.452 billion a year earlier. Prescription sales represented 67.6% of drug store sales, according to Rite Aid.
For the 13 weeks ended Dec. 1, same-store sales were down 1.5% year over year, reflect a 1.1% gain in the front end and a 2.7% decrease in the pharmacy. Prescription count at comparable stores rose 3.6% for the period. Total drug store sales for the 13 week fell 2% to $6.213 billion, with prescription sales accounting for 67.8% of all drug store sales.
In the 39-week year-to-date period ended Dec. 1, comp-store sales edged up 0.3%, including a 1.7% gain in the front end and a 0.4% decline in the pharmacy. Prescriptions filled at comparable stores were up 3.5%. Overall drug store sales for the 39 weeks dipped 0.4% to $18.859 billion. Prescription sales represented 67.9% of total drug store sales.
As of Dec. 1, Rite Aid operated 4,633 drug stores, compared with 4,679 stores a year earlier.