News
Rite Aid Reports 0.4 Percent Same Store Sales Decrease for June
CAMP HILL, Pa.-(Business Wire)-July 3, 2008 - Rite Aid Corporation (NYSE:RAD) today announced sales results for June.
Beginning with the four weeks ended June 28, 2008, the acquired Brooks Eckerd stores are included in the same store sales calculation.
Monthly Sales
For the four weeks ended June 28, 2008, same store sales, which were negatively impacted by the Brooks Eckerd stores, decreased 0.4 percent over the prior-year period. Pharmacy same store sales decreased 0.5 percent, which included an approximate 250 basis points negative impact from new generic introductions and an approximate 60 basis points negative impact from the switch of Zyrtec to over-the-counter status. Front-end same store sales were down 0.2 percent.
For the four weeks ended June 28, 2008, same store sales, excluding the Brooks Eckerd stores, increased 2.6 percent over the prior-year period with pharmacy same store sales increasing 2.5 percent and front-end same store sales growing 2.9 percent.
For the four weeks ended June 28, 2008, Brooks Eckerd same store sales decreased 6.2 percent over the prior-year period. Pharmacy same store sales decreased 5.4 percent and front-end same store sales were down 8.1 percent.
Total drugstore sales for the four-week period decreased 2.5 percent to $2.023 billion compared to $2.075 billion for the same period last year. Prescription revenue accounted for 66.5 percent of drugstore sales, and third party prescription revenue represented 96.4 percent of pharmacy sales.
Year-to-Date Sales
Same store sales for the seventeen-week period ended June 28, 2008 increased 0.9 percent, consisting of a 0.7 percent pharmacy same store sales increase and a 1.1 percent increase in front-end same store sales. The year-to-date same store sales calculation included four weeks of the acquired Brooks Eckerd stores.
Total drugstore sales for the seventeen weeks ended June 28, 2008 increased 32.2 percent to $8.610 billion from $6.511 billion in last year's like period. Prescription revenue accounted for 67.3 percent of total drugstore sales, and third-party prescription revenue was 96.3 percent of pharmacy sales.
Rite Aid Corporation is one of the nation's leading drugstore chains, operating 4,988 stores on June 28, 2008 in 31 states and the District of Columbia. Information about Rite Aid, including corporate background and press releases, is available through the company's website at http://www.riteaid.com.
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