Rite Aid June Same Store Sales Up 3.9%

(RTTNews) - Retail drugstore chain operator Rite Aid Corp. (RAD) on Thursday reported a 3.9 percent increase in same store sales for the month of June over the prior-year period, reflecting higher pharmacy same-store sales as well as front-end same store sales.

Camp Hill, Pennsylvania-based Rite Aid reported total drugstore sales of $2.00 billion for June, up 3.5 percent from $1.93 billion in the comparable month a year ago.

Same store sales for the four-week period ended June 28 rose 3.9 percent, reflecting a 5.4 percent increase in pharmacy same-store sales that included an about 169 basis points negative impact from new generic introductions.

Front-end same store sales for the month edged up 0.9 percent, and prescription count at comparable stores increased 3.5 percent.

The company noted that prescription revenue accounted for 68.4 percent of drugstore sales, while third-party prescription revenue represented 97.5 percent of pharmacy sales.

For the 17-week year-to-date period ended June 28, 2014, Rite Aid's same store sales increased 3.3 percent. Front-end same store sales edged up 0.2 percent and pharmacy same store sales increased 4.8 percent. Prescription count at comparable stores increased 2.6 percent over the prior-year period.

Total drugstore sales for the year-to-date period grew 2.8 percent to $8.42 billion from $8.19 billion in the prior-year quarter.

Prescription sales represented 68.4 percent of total drugstore sales for the period, while third-party prescription sales represented 97.4 percent of pharmacy sales.

RAD closed Wednesday's trading at $7.17. In Thursday's pre-market trades, the stock is up $0.25 or 3.49 percent to $7.42.