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Rite Aid’s March sales down despite front-end gain

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Rite Aid saw comparable-store sales decrease in March, but the decline was smaller than in the previous month.

Improved front-end sales provided a lift, helped by the earlier Easter holiday this year, the drug chain said.

Prescription count also edged up in March, although comparable pharmacy sales and total drug store sales fell during the month.

 

CAMP HILL, Pa. — Rite Aid Corp. reported a smaller decrease in comparable-store sales for March, with improved front-end sales providing a lift.

The drug chain said Thursday that for the four weeks ended March 30, comp-store sales fell 2% year over year, an improvement from a 3.6% decrease in February.

Same-store sales grew 3.8% in the front end during March. Rite Aid said 3% of that gain came fron a shift in the timing of Easter, which fell on March 31 this year versus April 8 last year.

Comparable pharmacy sales in March declined 4.5% and reflected a negative impact of 566 basis points from introductions of lower-priced generic drugs.

However, prescriptions filled at comparable stores inched up 0.3% over the prior-year period, Rite Aid said.

Overall drug store sales for March were down 2.5% to $1.94 billion from $1.99 billion a year earlier. Prescription sales represented 67.6% of drug store sales, according to the company.

As of March 30, Rite Aid operated 4,621 drug stores, compared with 4,659 stores a year earlier.


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