Rite Aid reports up-and-down March
Rite Aid Corp. reported increased pharmacy sales in March but a decline in front-end, same-store sales.
Pharmacy same-store sales, which included an approximate 133 basis points negative impact from new generic introductions, increased 3.5 percent in March, Rite Aid announced in a news release. A basis point is equal to .01 percent and is used by Rite Aid to describe revenue lost due to generic drugs.
All sales numbers are a year-over-year comparison. For the four weeks ending March 29, overall same-store sales increased 0.4 percent to $1.947 billion, compared to $1.939 billion for the same period last year.
February front-end same-store sales decreased 5 percent, with 4.1 percent attributable to a shift in the timing of Easter, which falls on April 20 this year compared to March 31 last year, the release said.
Prescription sales accounted for 69.4 percent of drugstore sales, and third-party prescription sales represented 97.4 percent of pharmacy sales. Prescription count at comparable stores increased 1.1 percent over the prior-year period.
Headquartered in East Pennsboro Township, Rite Aid is one of the nation's largest drugstore chains. As of March 29, the company operated 4,584 stores compared to 4,621 stores a year ago.