Rite Aid (RAD) April Comps Rose 5%; Front-End Up 4.7%

Rite Aid (NYSE: RAD) announced sales results for April.

Monthly Sales

For the four weeks ended April 26, 2014, same store sales increased 5.0 percent over the prior-year period. April front-end same store sales increased 4.7 percent, with 4.6 percent of the increase attributable to a shift in the timing of Easter, which fell on April 20 this year compared to March 31 last year. Pharmacy same store sales, which included an approximate 138 basis points negative impact from new generic introductions, increased 5.2 percent. Prescription count at comparable stores increased 2.3 percent over the prior-year period.

Total drugstore sales for the four-week period increased 4.9 percent to $1.995 billion compared to $1.902 billion for the same period last year. Prescription sales accounted for 67.9 percent of drugstore sales, and third party prescription sales represented 97.4 percent of pharmacy sales.

Year-to-Date

Same store sales for the eight-week period ended April 26, 2014 increased 2.9 percent over the prior-year period. Front-end same store sales decreased 0.2 percent while pharmacy same store sales increased 4.3 percent. Prescription count at comparable stores increased 1.7 percent over the prior-year period.

Total drugstore sales for the eight weeks ended April 26, 2014 increased 2.6 percent with sales of $3.941 billion compared to $3.841 billion for the same period last year. Prescription sales represented 68.7 percent of total drugstore sales, and third party prescription sales represented 97.4 percent of pharmacy sales.

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