Rite Aid (RAD) Reports August and Q2 Sales
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Rite Aid Corporation (NYSE: RAD) announced sales results for August. The acquired Brooks Eckerd stores are excluded from the same store sales calculation but will be included in same store sales twelve months after the close of the acquisition, which will be in June 2008.
For the five weeks ended September 1, 2007, same store sales increased 1.0% over the prior year period. Pharmacy same store sales increased 1.5%, which included an approximate 405 basis points negative impact from new generic introductions. Front-end same store sales were flat.
Total drugstore sales for the five-week period increased 52.9% to $2.506 billion compared to $1.639 billion for the same period last year. Prescription revenue accounted for 68.2% of drugstore sales, and third party prescription revenue represented approximately 95.9% of pharmacy sales.
Same store sales for the 13-week quarter ended September 1, 2007 increased 1.1% over the prior year quarter. Pharmacy same store sales increased 1.4% which included an approximate 509 basis points negative impact from new generic introductions. Front-end same store sales were up 0.6%.
Total drugstore sales for the quarter increased 54.1% to $6.574 billion from $4.266 billion in last year's second quarter. Prescription revenue accounted for 67.4% of total drugstore sales, and third party prescription revenue was 95.9% of pharmacy sales. (Qtrly sales consensus is $6.9 billion)
For the five weeks ended September 1, 2007, same store sales increased 1.0% over the prior year period. Pharmacy same store sales increased 1.5%, which included an approximate 405 basis points negative impact from new generic introductions. Front-end same store sales were flat.
Total drugstore sales for the five-week period increased 52.9% to $2.506 billion compared to $1.639 billion for the same period last year. Prescription revenue accounted for 68.2% of drugstore sales, and third party prescription revenue represented approximately 95.9% of pharmacy sales.
Same store sales for the 13-week quarter ended September 1, 2007 increased 1.1% over the prior year quarter. Pharmacy same store sales increased 1.4% which included an approximate 509 basis points negative impact from new generic introductions. Front-end same store sales were up 0.6%.
Total drugstore sales for the quarter increased 54.1% to $6.574 billion from $4.266 billion in last year's second quarter. Prescription revenue accounted for 67.4% of total drugstore sales, and third party prescription revenue was 95.9% of pharmacy sales. (Qtrly sales consensus is $6.9 billion)
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