Rite Aid 'Hoppy' After Easter: April SSS Up 5%, Drugstore Sales Up 4.9%
Rite Aid (NYSE: RAD) in a press release on Thursday reported same-store sales for the four weeks ending on April 26, 2014.
Monthly sales for April increased five percent over same period a year ago. Front-end same store sales grew 4.7 percent, with a 4.6 percent increase directly correlated with a shift in the timing for Easter.
Pharmacy same-store sales for April increased 5.2 percent with a 138 basis points negative from new generic introductions. Third party prescription sales accounted for 97.4 percent of pharmacy sales. Prescription count at comparable stores were up 2.3 percent over April 2013.
The company reported total drugstore sales of $1.995 billion, up 4.9 percent from $1.902 billion for the same period a year ago. Prescription sales accounted for 67.9 percent of drugstore sales.
Rite Aid's same store sales year-to-date grew 2.9 percent from the prior year period. Prescription count grew 1.7 percent at comparable stores, representing 68.7 percent of total drugstore sales.
The company reported total drugstore sales for the eight-week period of $3.941 billion, up 2.6 percent from $3.841 billion last year. Third party prescription sales accounted for 97.4 percent of pharmacy sales.
Shares of Rite Aid closed at $7.30 on Wednesday. The stock is up more than 2.5 percent in pre-market trading.
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