Rite Aid Reports 1.0 Percent Same Store Sales Decrease for August

CAMP HILL, Pa.--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) today announced sales results for August.

Monthly Sales

For the five weeks ended August 28, 2010, same store sales decreased 1.0 percent over the prior-year period. August front-end same store sales decreased 0.9 percent while pharmacy same store sales, which included an approximate 225 basis points negative impact from new generic introductions, declined 1.0 percent. Prescriptions filled at comparable stores decreased 1.2 percent over the prior-year period.

Total drugstore sales for the five-week period decreased 2.2 percent to $2.343 billion compared to $2.395 billion for the same period last year. Prescription revenue accounted for 68.5 percent of drugstore sales, and third party prescription revenue represented 96.2 percent of pharmacy sales.

Quarterly Sales

Same store sales for the 13-week quarter ended August 28, 2010 decreased 1.5 percent over the prior-year period. Front-end same store sales were down 0.9 percent while pharmacy same store sales decreased 1.8 percent. Prescriptions filled at comparable stores decreased 2.1 percent over the prior-year period.

Total drugstore sales for the 13-week second quarter decreased 2.5 percent to $6.137 billion compared to $6.297 billion in last year’s like period. Prescription revenue represented 68.1 percent of total drugstore sales, and third party prescription revenue was 96.1 percent of pharmacy sales.

Year-to-Date Sales

Same store sales for the 26-week period ended August 28, 2010 decreased 1.2 percent over the prior-year period. Front-end same store sales were down 1.1 percent while pharmacy same store sales decreased 1.3 percent. Prescriptions filled at comparable stores decreased 1.9 percent over the prior-year period.

Total drugstore sales for the 26 weeks ended August 28, 2010 decreased 2.3 percent to $12.505 billion compared to $12.803 billion in last year’s like period. Prescription revenue represented 68.2 percent of total drugstore sales, and third party prescription revenue was 96.2 percent of pharmacy sales.

Rite Aid is one of the nation’s largest drugstore chains. On August 28, 2010, the company operated 4,747 stores compared to 4,812 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.