Rite Aid reports prosperous April
Rite Aid Corp. reported strong pharmacy sales in April, posting a 5 percent gain in year-over-year same-store sales.
April front-end, same-store sales increased 4.7 percent, with 4.6 percent of the increase attributable to a shift in the timing of Easter, Rite Aid said in a news release.
The holiday fell on April 20 this year compared with March 31 last year.
Pharmacy same-store sales, which included an approximate 138 basis points negative impact from new generic introductions, increased 5.2 percent. Prescription count at comparable stores increased 2.3 percent over the prior-year period. A basis point is equal to .01 percent and is used by Rite Aid to describe revenue lost due to generic drugs.
Total drugstore sales for the four-week period increased 4.9 percent to nearly $2 billion compared with $1.9 billion for the same period last year. Prescription sales accounted for 67.9 percent of drugstore sales, and third-party prescription sales represented 97.4 percentof pharmacy sales, the release said.
Same-store sales for the eight-week period ending April 26 increased 2.9 percent over the prior-year period. Front-end same-store sales decreased 0.2 percent while pharmacy same-store sales increased 4.3 percent. Prescription count at comparable stores increased 1.7 percent over the prior-year period.
Total drugstore sales for the eight-week period increased 2.6 percent, with sales of $3.94 billion compared to $3.84 billion for the same period last year. Prescription sales represented 68.7 percent of total drugstore sales, and third-party prescription sales represented 97.4 percent of pharmacy sales.
Headquartered in East Pennsboro Township, Rite Aid is one of the nation's largest drugstore chains. As of April 26, the company operated 4,583 stores compared to 4,619 stores a year ago.