Rite Aid Sales Slip, Prescriptions Hurt
Stock quotes in this article:
RAD
(Updated with stock price.)
NEW YORK (TheStreet) -- Rite Aid(RAD Quote) reported a 0.5% slip in October sales, dragged down by front-end sales and the roll-out of new generic drugs. Front-end comparable sales tumbled 2.7%, while pharmacy sales inched up 0.5%. Pharmacy comparable sales were hurt by the introduction of new generic drugs. Prescriptions filled at comparable stores increased 1.8% over the prior-year period. Total drugstore sales for the month declined 1.7% to $1.96 billion. Shares of the drugstore are climbing 3.2% to $1.30 in morning trading. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.- Loading Comments...
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