Walgreen (WAG) March Sales Results Outpace Rite Aid (RAD)
Tweet
Share
E-mail
Rite Aid Corp. (NYSE: RAD) is lower on the session after reporting a 2 percent drop in comps for the month of March. Total drugstore sales slipped 2.5 percent to $1.939 billion, the company said.
Numbers for Rite Aid come in following a report from peer Walgreen (NYSE: WAG) on Wednesday showing a 0.7 percent gain in comps as sales rose 2.3 percent to $6.16 billion.
Walgreen noted that pharmacy comps fell 1.5 percent, but increased by a calendar day-shift adjusted 1.9 percent. Front-end comps rose 4.2 percent.
The story was similar at Rite Aid, which reported a 4.5 percent drop in pharmacy comps and adjusted 3.8 percent gain in front-end comps.
Though both retail pharmacy giants reported similar adjustments, some might speculate that a shift to Walgreen might be happening.
Shares of Rite Aid are down 3.4 percent while Walgreen is in positive territory.
Numbers for Rite Aid come in following a report from peer Walgreen (NYSE: WAG) on Wednesday showing a 0.7 percent gain in comps as sales rose 2.3 percent to $6.16 billion.
Walgreen noted that pharmacy comps fell 1.5 percent, but increased by a calendar day-shift adjusted 1.9 percent. Front-end comps rose 4.2 percent.
The story was similar at Rite Aid, which reported a 4.5 percent drop in pharmacy comps and adjusted 3.8 percent gain in front-end comps.
Though both retail pharmacy giants reported similar adjustments, some might speculate that a shift to Walgreen might be happening.
Shares of Rite Aid are down 3.4 percent while Walgreen is in positive territory.
Create E-mail Alert Related Categories
Insiders' Blog, Retail SalesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
