Rite Aid reports decrease in same-store sales

CAMP HILL, Pa. For the five weeks ended Aug. 29, same-store sales for Rite Aid decreased 1.9% from the prior-year period, Rite Aid announced last week.

Meanwhile, the drug chain reported that its front-end same-store sales decreased 5.3% as pharmacy same-store sales, which included an approximate 264 basis points negative impact from new generic introductions, declined 0.2%. Sales continued to be negatively impacted by a weak economy with high unemployment, Rite Aid said.

Additionally, same-store sales excluding the acquired Brooks Eckerd stores were down 1.5%, compared with the prior-year period with front-end same-store sales decreasing 5.6% and pharmacy same store sales increasing 0.9%.

Total drugstore sales for the five-week period decreased 3.2% to $2.395 billion, compared with $2.474 billion for the same period last year. Prescription revenue accounted for 68.3% of drugstore sales, and third party prescription revenue represented 96.2% of pharmacy sales.