Rite Aid Reports 0.4 Percent Same Store Sales Increase for October
Rite Aid Corporation (NYSE: RAD) today announced sales results for October. 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 included all of the stores operated during the period, including stores acquired in the Brooks Eckerd acquisition on June 4, 2007.
For the four weeks ended October 27, 2007, same store sales increased 0.4 percent over the prior-year period. Pharmacy same store sales increased 1.3 percent, which included an approximate 429 basis points negative impact from new generic introductions. Front-end same store sales decreased 1.4 percent.
Total drugstore sales for the four-week period increased 50.7 percent to $1.986 billion compared to $1.318 billion for the same period last year. Prescription revenue accounted for 69.0 percent of drugstore sales, and third party prescription revenue represented approximately 96.0 percent of pharmacy sales.
Same store sales for the 34-week period ended October 27, 2007, increased 1.4 percent, consisting of a 1.9 percent pharmacy same store sales increase and a 0.6 percent increase in front-end same store sales.
Total drugstore sales for the 34 weeks ended October 27, 2007, increased 33.7 percent to $14.982 billion from $11.206 billion in last year’s like period. Prescription revenue accounted for 66.9 percent of total drugstore sales, and third party prescription revenue was approximately 95.8 percent of pharmacy sales.
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