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TheStreet Open House

Rite Aid Reports 3.0 Percent Same Store Sales Decrease For November

Stock quotes in this article: RAD

Rite Aid Corporation (NYSE: RAD) today announced sales results for November.

Monthly Sales

For the five weeks ended Dec. 1, 2012, same store sales decreased 3.0 percent over the prior-year period. November front-end same store sales decreased 0.5 percent. Pharmacy same store sales, which included an approximate 897 basis points negative impact from new generic introductions, decreased 4.2 percent. Prescription count at comparable stores increased 2.2 percent over the prior-year period.

Total drugstore sales for the five-week period decreased 2.3 percent to $2.396 billion compared to $2.452 billion for the same period last year. Prescription sales accounted for 67.6 percent of drugstore sales, and third party prescription sales represented 96.6 percent of pharmacy sales.

Hurricane Sandy Impact

As anticipated, Hurricane Sandy had a negative impact on same store sales results for the month of November. The Company estimates that November’s front-end same store sales were negatively impacted by 0.4 percent and the month’s prescription count at comparable stores was negatively impacted by 1.5 percent.

Quarterly Sales

Same store sales for the 13-week period ended Dec. 1, 2012 decreased 1.5 percent over the prior-year period. Front-end same store sales increased 1.1 percent while pharmacy same store sales decreased 2.7 percent. Prescription count at comparable stores increased 3.6 percent over the prior-year period.

Total drugstore sales for the 13-week period decreased 2.0 percent with sales of $6.213 billion compared to $6.338 billion for the same period last year. Prescription sales represented 67.8 percent of total drugstore sales, and third party prescription sales represented 96.5 percent of pharmacy sales.

Year-to-Date Sales

Same store sales for the 39-week period ended Dec. 1, 2012 increased 0.3 percent over the prior-year period. Front-end same store sales increased 1.7 percent while pharmacy same store sales decreased 0.4 percent. Prescription count at comparable stores increased 3.5 percent over the prior-year period.

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