Rite Aid Corporation (NYSE:RAD) today announced sales results for December. The acquired Brooks Eckerd stores are excluded from the same store sales calculation but will be included in same store sales twelve months after the close of the acquisition, which will be in June 2008.
Total sales include all of the stores operated during the period, including stores acquired in the Brooks Eckerd acquisition on June 4, 2007.
Monthly Sales
For the four weeks ended December 29, 2007, same store sales decreased 0.5 percent over the prior-year period. Pharmacy same store sales were flat, which included an approximate 443 basis points negative impact from new generic introductions. Front-end same store sales decreased 1.2 percent.
Total drugstore sales for the four-week period increased 47.5 percent to $2.201 billion compared to $1.492 billion for the same period last year. Prescription revenue accounted for 61.8 percent of drugstore sales, and third party prescription revenue represented approximately 96.1 percent of pharmacy sales.
Year-to-Date Sales
Same store sales for the 43-week period ended December 29, 2007, increased 1.2 percent, consisting of a 1.6 percent pharmacy same store sales increase and a 0.4 percent increase in front-end same store sales.
Total drugstore sales for the 43 weeks ended December 29, 2007, increased 37.1 percent to $19.710 billion from $14.374 billion in last year’s like period. Prescription revenue accounted for 66.4 percent of total drugstore sales, and third party prescription revenue was approximately 95.9 percent of pharmacy sales.
Rite Aid Corporation is one of the nation’s leading drugstore chains, operating 5,088 stores on December 29, 2007 in 31 states and the District of Columbia. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at http://www.riteaid.com.