Rite Aid Reports 3.0 Percent Same Store Sales Decrease For November

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.

Total drugstore sales for the 39 weeks ended Dec. 1, 2012 decreased 0.4 percent with sales of $18.859 billion compared to $18.927 billion for the same period last year. Prescription sales represented 67.9 percent of total drugstore sales, and third party prescription sales represented 96.6 percent of pharmacy sales.

Rite Aid is one of the nation’s largest drugstore chains. On Dec. 1, 2012, the company operated 4,633 stores compared to 4,679 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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