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Rite Aid Reports Same Store Sales For January

Stocks in this article: RAD

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

Monthly Sales

For the four weeks ended Jan. 25, 2014, same store sales increased 1.8 percent over the prior-year period. January front-end same store sales decreased 1.3 percent, of which 1.4 percent was attributable to a decrease in sales of flu-related over-the-counter products. Pharmacy same store sales, which included an approximate 124 basis points negative impact from new generic introductions, increased 3.2 percent. Prescription count at comparable stores decreased 2.2 percent over the prior-year period, of which 2.4 percent is attributable to a decrease in flu-related prescriptions and flu shots.

Total drugstore sales for the four-week period increased 1.5 percent to $1.943 billion compared to $1.914 billion for the same period last year. Prescription sales accounted for 69.7 percent of drugstore sales, and third party prescription sales represented 96.7 percent of pharmacy sales.

Year-to-Date

Same store sales for the 47-week period ended Jan. 25, 2014 increased 0.6 percent over the prior-year period. Front-end same store sales were flat compared to the prior-year period while pharmacy same store sales increased 0.9 percent. Prescription count at comparable stores decreased 0.2 percent over the prior-year period.

Total drugstore sales for the 47 weeks ended Jan. 25, 2014 increased 0.3 percent with sales of $22.896 billion compared to $22.826 billion for the same period last year. Prescription sales represented 67.7 percent of total drugstore sales, and third party prescription sales represented 97.0 percent of pharmacy sales.

Rite Aid is one of the nation’s largest drugstore chains. On Jan. 25, 2014, the company operated 4,588 stores compared to 4,626 stores in the like period a year ago. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at http://www.riteaid.com. Note that all sales data in this release is preliminary, unaudited and subject to revision.

Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties that are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Rite Aid expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

Copyright Business Wire 2010

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