Rite Aid reports drop in monthly sales
CAMP HILL, Pa. Rite Aid reported weak sales for the month of February.
For the five weeks ended Feb. 27, the drug store chain said Thursday its same-store sales, front-end same-store sales and pharmacy same-store sales all decreased 3.2%.
Rite Aid contributed its drop in pharmacy same-store sales were negatively impacted from new generic introductions. Prescriptions filled at comparable stores decreased 3.4% over the prior-year period.
Front-end and pharmacy same store sales were negatively impacted by a weaker cough, cold and flu season than in the like period last year, Rite Aid said. Front-end sales were also negatively affected by severe weather, especially in the northeast and south, and continued weak consumer demand.
Meanwhile, total drug store sales for the five-week period decreased 4.5% to $2.43 billion, compared with $2.55 billion for the same period last year. Prescription revenue accounted for 67.% of drugstore sales, and third party prescription revenue represented 95.8% of pharmacy sales.
As of Feb. 27, Rite Aid operated 4,780 stores, compared with 4,901 stores in the like period a year ago.