Rite Aid (RAD) Misses Q1 EPS by 1c; Comps Rose 3.1%

(Updated - June 19, 2014 7:12 AM EDT)

Rite Aid (NYSE: RAD) reported Q1 EPS of $0.04, $0.01 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $6.47 billion versus the consensus estimate of $6.43 billion.

Same store sales for the quarter increased 3.1 percent over the prior year. Front-end same store sales were flat compared to the prior-year period while pharmacy same store sales increased 4.6 percent. Pharmacy sales included an approximate 143 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores increased 2.3 percent over the prior year period. Prescription sales accounted for 68.4 percent of total drugstore sales, and third party prescription revenue was 97.4 percent of pharmacy sales.

“In the first quarter, we delivered a strong store operating performance, highlighted by increases in same-store sales and same-store prescription count,” said Rite Aid Chairman and CEO John Standley. “As we work through managing the higher-than-expected drug costs and reimbursement rate pressure that affected our financial results for the quarter, we remain focused on executing our strategy to expand our health care offering and transform Rite Aid into a growing retail health care company.”

Rite Aid reaffirmed FY2015 guidance.

For earnings history and earnings-related data on Rite Aid (RAD) click here.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Wipro (WIT) Tops Q1 EPS by 1c
• Wells Fargo on Super Micro Computer (SMCI): 'No Positive Preannouncement