reported better-than-expected sales in May, a month that brought strong results from a number of pharmacy chains.
Rite Aid said its same-store sales, or sales at stores that were open for at least a year, rose 4% for the month, beating Wall Street's consensus estimate for a 2.9% increase, as reported by Thomson First Call.
By segment, the company said its pharmacy same-store sales rose 4.9%, while its front-end comps were up 2.3%. Its total drugstore sales rose 3.4% to $1.68 billion.
Rite Aid's results followed strong results from
, which reported a 9.8% increase in May comps earlier this month.
logged a gain of 8.4%. Both reports beat expectations on Wall Street.