Member access

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
02/28 RITE AID : BRIEF: Undercover officer arrests man suspected in Sacramento pharmac..
02/26DJCatamaran to Buy Healthcare Solutions for $405 Million--Update
02/26DJCatamaran to Buy Healthcare Solutions for $405 Million
02/24 RITE AID : Announces First-Ever Innovation Challenge
02/23 RITE AID : BRIEF: Augusta police make arrests in robbery, car theft
02/22 RITE AID : Redding Record Searchlight, Calif., Buzz on the Street column
02/21 RITE AID : Sacramento police seek identity of suspect in pharmacy robberies
02/20 RITE AID : Announces Winners of 11th Annual Favorite Pharmacy Team Member Contes..
02/20 RITE AID : BRIEF: Gardiner police seek Rite Aid robber
02/20 RITE AID : Gardiner police seek Rite Aid robber
Advertisement
Chart
Duration : Period :
Rite Aid Corporation Technical Analysis Chart | RAD | US7677541044 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF