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Rite Aid reports drop in monthly sales

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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.

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