Analysts react positively to Rite Aid's November pharmacy results

CAMP HILL, Pa. — Rite Aid's positive pharmacy results helped fuel a pre-market surge of 2.4% to $5.59 in premarket trading. Pharmacy same-store sales, which included an approximate 232 basis points negative impact from new generic introductions, increased 7.1%.

 

For the five weeks ended Nov. 29, Rite Aid on Thursday announced a same-store sales increased of 5.1% over the prior-year period. November front-end same store sales increased 0.7%. Prescription count at comparable stores increased 4.2% over the prior-year period. Total drug store sales for the five-week period increased 5.6% to $2.6 billion. Prescription sales accounted for 69.7% of drug store sales, and third-party prescription sales represented 97.6% of pharmacy sales.

 

According to The Wall Street Journal, analysts polled by Thomson Reuters expected November same-store sales growth of 4.1% for November and revenue of $6.8 billion for the quarter.

 

Same-store sales for the quarter ended Nov. 29, 2014 increased 5.4% over the prior-year period. Front-end same store sales increased 1.6% while pharmacy same store sales increased 7.2%. Prescription count at comparable stores increased 4.5% over the prior-year period.

 

Total drug store sales for the 13 weeks ended Nov. 29, 2014 increased 5.1% with sales of $6.7 billion. Prescription sales represented 69.8% of total drug store sales, and third party prescription sales represented 97.6% of pharmacy sales.

 

Same-store sales for the year-to-date period ended Nov. 29, 2014 increased 4.2% over the prior-year period. Front-end same-store sales increased 0.9% while pharmacy same-store sales increased 5.8%. Prescription count at comparable stores increased 3.5% over the prior-year period.

 

Total drug store sales for the 39 weeks ended Nov. 29, 2014 increased 3.8% with sales of $19.6 billion. Prescription sales represented 69% of total drugstore sales, and third party prescription sales represented 97.5% of pharmacy sales.