Rite Aid (RAD) Reports July Sales Results
Rite Aid Corporation (NYSE: RAD) today announced sales results for July.
For the four weeks ended July 26, 2008, same store sales increased 1.2% over the prior-year period. Front-end same store sales were up 2.1%. Pharmacy same store sales increased 0.7%, which included an approximately 252 basis point negative impact from new generic introductions.
For the four weeks ended July 26, 2008, same stores sales excluding the acquired Brooks Eckerd stores increased 3.8%over the prior-year period with front-end same store sales increasing 4.3% and pharmacy same store sales growing 3.5%.
Total drugstore sales for the four-week period decreased 0.9% to $1.975 billion compared to $1.993 billion for the same period last year. Prescription revenue accounted for 66.8% of drugstore sales, and third party prescription revenue represented 96.3% of pharmacy sales.[SM]
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