Rite Aid posts same-store sales decline

CAMP HILL, Pa. Rite Aid on Thursday posted a same-store sales decrease of 1.7% for the four weeks ended Oct. 23, representing a front-end comparable sales decline of 1.3% and a 1.8% drop in same-store pharmacy sales.

Prescriptions filled at comparable stores decreased 1.9% over the prior-year period.

Both front-end and pharmacy same-store sales were negatively impacted by a significantly weaker cough, cold and flu season compared with the same period last year, when news of an H1N1 pandemic was dominating the airwaves.

Total drug store sales for the four-week period decreased 2.7% to $1.9 billion. Prescription revenue accounted for 68.5% of drug store sales, and third-party prescription revenue represented 96.2% of pharmacy sales.