Rite Aid reports strong June sales
East Pennsboro Township-based Rite Aid Corp. posted strong pharmacy sales in June, which helped boost same-store sales by 3.9 percent over the same month a year ago, the company said today.
Total drugstore sales for the month increased 3.5 percent to nearly $2 billion compared with about $1.93 billion last year. Prescription sales accounted for 68.4 percent of those sales, and third-party prescription sales represented 97.5 percent of pharmacy sales, which were up 5.4 percent.
Pharmacy same-store sales include an approximate 169 basis points negative impact from new generic introductions, according to Rite Aid, the No. 3 drugstore chain in the nation.
For the year, same-store sales through June increased 3.3 percent, according to Rite Aid. Pharmacy sales carried the chain with 4.8 percent growth, while front-end sales increased 0.2 percent.
Total drugstore sales for the first 17 weeks of the year increased 2.8 percent with sales of $8.42 billion compared with $8.19 billion.
The stock was trading at $7.46 per share just before 10 a.m., according to Yahoo Finance. The price has been up and down between $7 and $8.50 per share in recent weeks.