Rite Aid posts 1.8% increase in January comp sales despite tough flu comparisons

CAMP HILL, Pa. — Rite Aid's January same-store sales increased 1.8%, beating out an analyst projection of a 0.5% increase in overall comparable-store sales. Total drug store sales for the four weeks ended Jan. 25 increased 1.5% to $1.9 billion.

January front-end same-store sales decreased 1.3%, of which 1.4% was attributable to a decrease in sales of flu-related over-the-counter products. Pharmacy same-store sales, which included an approximate 124 basis points negative impact from new generic introductions, increased 3.2%. 

Prescription count at comparable stores decreased 2.2% over the prior-year period, of which 2.4% is attributable to a decrease in flu-related prescriptions and flu shots.

Prescription sales accounted for 69.7% of drug store sales, and third party prescription sales represented 96.7% of pharmacy sales.

Same store sales for the 47-week period ended Jan. 25, 2014 increased 0.6 percent over the prior-year period. Front-end same store-sales were flat compared to the prior-year period while pharmacy same-store sales increased 0.9%. Prescription count at comparable stores decreased 0.2% over the prior-year period.

Total drug store sales for the 47 week period increased 0.3% with sales of $22.9 billion. Prescription sales represented 67.7% of total drug store sales, and third party prescription sales represented 97% of pharmacy sales.