Rite Aid Reports 1.7 Percent Same Store Sales Increase for May
CAMP HILL, PA, - Rite Aid Corporation (NYSE: RAD) today announced sales results for May.
For the five weeks ended June 2, 2007, same store sales increased 1.7 percent over the prior-year period. Pharmacy same store sales increased 1.9 percent which included an approximate 649 basis points negative impact from new generic introductions. Front-end same store sales were up 1.4 percent.
Total drugstore sales for the five-week period increased 2.2 percent to $1.716 billion compared to $1.680 billion for the same period last year. Prescription revenue accounted for 63.8 percent of drugstore sales, and third party prescription revenue represented 95.7 percent of pharmacy sales.
Both same store and total sales do not include the Brooks Eckerd stores acquired June 4, 2007.
First Quarter Sales
Same store sales for the 13-week quarter ended June 2, 2007 increased 2.3 percent over the prior-year quarter. Pharmacy same store sales increased 2.7 percent which included an approximate 591 basis points negative impact from new generic introductions. Front-end same store sales were up 1.6 percent.
Total drugstore sales for the quarter increased 2.8 percent to $4.436 billion from $4.315 billion in last yearís first quarter. Prescription revenue accounted for 64.4 percent of total drugstore sales, and third party prescription revenue was 95.7 percent of pharmacy sales.
On June 2, 2007, Rite Aid operated 3,332 stores compared to 3,321 stores operated in the like period a year ago. Rite Aid Corporation is one of the nationís leading drugstore chains and with the June 4, 2007 acquisition of Brooks Eckerd, has annual revenues of more than $27 billion and approximately 5,100 stores in 31 states and the District of Columbia with strong presence on both the East and West coasts.
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