Rite Aid November Same-Store Sales Up 5.1%

Rite Aid Corporation's RAD November same-store sales increased 5.1 percent while total sales grew 5.6 percent to $2.571 billion from the same period a year earlier, the company said Wednesday.

The drug store chain traded up nearly 2 percent early in Thursday's session to $5.56 a share.

Rite Aid said its pharmacy same-store sales increased 7.1 percent during the five weeks ended November 29, while prescription count at comparable stores increased 4.2 percent over the prior-year period.

November front-end same store sales increased 0.7 percent.

The company also beat Wall Street's expectations for its total third-quarter sales and posted same-store sales growth of 5.4 percent for the recent quarterly period.

Rite Aid expects to post full results for its third quarter on December 18.

For the quarter ended November 29, total sales grew 5.1 percent to $6.651 billion compared to $6.330 billion in the year-earlier quarter. Wall Street expected sales of $6.55 billion for the recent quarter.

Same-store sales were up 5.4 percent in the recent third quarter, including 1.6 percent at the front end and 7.2 percent at pharmacy.