Rite Aid Reports 0.7 Percent Same Store Sales Increase for June
Rite Aid Corporation (NYSE: RAD) today announced sales results for June. The acquired Brooks Eckerd stores are excluded from the same store sales calculation but will be included in same store sales twelve months after the close of the acquisition, which will be in June 2008.
Total sales include all of the stores operated during the period described. The period ended June 30, 2007 includes stores acquired in the Brooks Eckerd acquisition on June 4, 2007.
For the four weeks ended June 30, 2007, same store sales rose 0.7 percent over the prior-year period. Pharmacy same store sales increased 0.6 percent, which included an approximate 699 basis points negative impact from new generic introductions. Front-end same store sales increased 1.1 percent.
Total drugstore sales for the four-week period increased 54.8 percent to $2.075 billion compared to $1.340 billion for the same period last year. Prescription revenue accounted for 66.8 percent of drugstore sales, and third party prescription revenue represented approximately 96 percent of pharmacy sales.
Same store sales for the 17-week period ended June 30, 2007, increased 1.9 percent, consisting of a 2.2 percent pharmacy same store sales increase and a 1.5 percent increase in front-end same store sales.
Total drugstore sales for the 17 weeks ended June 30, 2007, increased 15.2 percent to $6.510 billion from $5.654 billion in last year’s like period. Prescription revenue accounted for 65.2 percent of total drugstore sales, and third party prescription revenue was approximately 96 percent of pharmacy sales.
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