Rite Aid Announces November Sales

Rite Aid Corp. (NYSE: RAD) reported its sales results for its retail pharmacy segment for the month of November before the markets opened Thursday.

For the five weeks that ended November 28, same-store sales increased 0.9%, compared to the same period of the previous year. November front-end same-store sales increased 1.2%. Pharmacy same-store sales, which included an approximate 267 basis points negative impact from new generic introductions, increased 0.7%. Prescription count at comparable stores increased 0.8% over the prior-year period.

Total drugstore sales for the five-week period decreased 0.6% to $2.556 billion, compared to $2.571 billion for the same period last year. Prescription sales accounted for 69.2% of drugstore sales, and third-party prescription sales represented 97.9% of pharmacy sales.

Same-store sales for the 13-week period ended Nov. 28 increased 0.9% over the prior-year period. Front-end same-store sales increased 0.3%, while pharmacy same store sales increased 1.2%. Prescription count at comparable stores increased 0.2% over the prior-year period.

Total drugstore sales for the 13 weeks ended Nov. 28 increased 0.8%, with sales of $6.701 billion compared to $6.651 billion for the same period last year. Prescription sales represented 69.9% of total drugstore sales, and third-party prescription sales represented 97.9% of pharmacy sales.

At the end of the November period, the company operated 4,560 stores, compared to 4,572 stores in the like period a year ago.

Shares of Rite Aid were trading at $7.90 Thursday, with a consensus analyst price target of $9.35 and a 52-week trading range of $5.48 to $9.47.

ALSO READ: 5 Top Dividend Hikes Expected Before the End of 2015