In the five-week period to March 1, the drugstore chain recorded a 1.5% increase in same-store sales compared to the same period a year earlier. Pharmacy same-store sales, which included a 138-basis-point negative impact from new generic products, jumped 3.1%.
Total drugstore sales over the period climbed 2.4% to $2.52 billion, of which 69.1% was from prescription sales.
In the 13 weeks to March 1, same-store sales were up 2.1%, with pharmacy same-store sales increasing 3.5%.
Total drugstore sales over the quarter added 2.2% to $6.57 billion, of which 67.5% was from prescription sales.
On Monday, Rite Aid shares had taken off 2.1% to $6.43.
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TheStreet Ratings team rates RITE AID CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate RITE AID CORP (RAD) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow."