Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  Rite Aid Corporation    RAD   US7677541044

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Rite Aid February Same-Store Sales Rose 3.1%; Up 3% In 4Q

03/08/2012 | 09:07am US/Eastern

Rite Aid Corp.'s (>> Rite Aid Corporation) same-store sales rose 3.1% in February, marking the 11th straight month of growth for the drug store chain.

The No. 3 U.S. drug store chain behind Walgreen Co. (>> Walgreen Company) and CVS Caremark Corp. (>> CVS Caremark Corporation) reported same-store sales growth in all but one month last year -- March had a 0.1% drop -- with a boost from the rollout of a loyalty program and store renovations that expanded clinical pharmacy services and health and wellness products choices.

During February, same-store sales were up 1.9% in the front of the store. Pharmacy same-store sales increased 3.7%, despite a negative impact of 2.42 percentage points from generic drug introductions. Same-store prescription counts were up 2.2%.

For the fiscal fourth quarter ended March 3, same-store sales improved 3%, including growth of 1.6% in the front of the store and 3.8% in the pharmacy section.

Total February drug store sales rose 2.3% to $2.55 billion. Prescription sales accounted for 68.3% of drugstore sales.

For the quarter, total drug store sales rose 2.5% to $7.12 billion.

Rite-Aid, which has about 4,667 stores, has posted losses since its 2007 acquisition of the Brooks Eckerd Pharmacy chain stores that saddled it with debt just before consumers slashed spending.

The company in December reported that its fiscal third-quarter loss narrowed as same-store sales grew for a fourth consecutive quarter and interest expense and lease termination and write-down charges declined.

Shares were up 1.2% at $1.71 in recent premarket trading. Through Wednesday's close, the stock is up by slightly more than a third this year.

 
   -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com 
 

React to this article
Latest news on RITE AID CORPORATION
06/29 RITE AID : Bryan Everett Joins Rite Aid as Executive Vice President of Store Ope..
06/29 RITE AID : Partners With The Skin Cancer Foundation’s Road to Healthy Skin..
06/27 RITE AID : Granco Granco to fill vacant lot next to Rite Aid
06/26 RITE AID : shareholders back union over board on proposal to limit executive com..
06/24 RITE AID : Completion of Acquisition or Disposition of Assets, Regulation FD Dis..
06/24 RITE AID : Completes Acquisition of Leading Independent Pharmacy Benefit Manager..
06/24 RITE AID : Former restaurant site in Glendale may become Rite Aid drugstore
06/23 RITE AID : Sacramento Republic FC's main investor to leave drug company
06/22 RITE AID : Management's Discussion and Analysis of Financial Condition and Resul..
06/21 RITE AID : Whitesville facing economic challenge
Advertisement
Chart
Duration : Period :
Rite Aid Corporation Technical Analysis Chart | RAD | US7677541044 | 4-Traders
Income Statement Evolution
More Financials