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Rite Aid March Same-Store Sales Rose 3.6%

DOW JONES NEWSWIRES Rite Aid Corp.'s (RAD) same-store sales rose 3.6% in March, continuing a streak of monthly growth for the drugstore chain. The No. 3 U.S. drugstore chain behind Walgreen Co. (WAG) and CVS Caremark Corp. (CVS) reported same-store sales growth in all but one month during 2011; March 2011 had a 0.1% drop. Last month Rite Aid reported its fourth-quarter same-store sales rose 3%, its best showing in five years. Analysts have been expecting Rite Aid and CVS to gain market share as a result of Walgreen's exiting pharmacy benefits manager Express Scripts Holding Co.'s (ESRX) network late last year. The move was expected to result in some of Walgreen's customers going to competitors such as Rite Aid to fill prescriptions. During March, same-store sales were up 4.6% in the front of the store. Pharmacy same-store sales increased 3.2%, despite a negative impact of 2.4 percentage points from generic drug introductions. Same-store prescription counts grew 2.6%. Total March drugstore sales rose 3.1% to $1.99 billion. Prescription sales accounted for 69.2% of drugstore sales. Rite-Aid, which has about 4,659 stores, has posted losses since its 2007 acquisition of the Brooks and Eckerd chain stores that saddled it with debt just before consumers slashed spending. The company in December reported that its fiscal third-quarter loss narrowed on higher same-store sales as the drugstore chain's wellness and loyalty and flu-immunization programs lifted pharmacy-department sales. Shares were up 2.3% at $1.75 in recent premarket trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Rite Aid (RAD)
DateTimeHeadline
09/27/201610:26:00Rite Aid Expands Naloxone Dispensing Program in Four Additional...
09/23/201603:03:00Business Watch -- WSJ
09/22/201608:50:00Rite Aid Same-Store Sales Fall Amid Generics Pressure
09/22/201607:10:10Current Report Filing (8-k)
09/22/201607:00:00Rite Aid Reports Fiscal 2017 Second Quarter Results
09/20/201616:23:33Statement of Changes in Beneficial Ownership (4)
09/14/201608:28:00Rite Aid to Release Second Quarter Results on September 22
09/12/201610:05:00Rite Aid Foundation’s KidCents Program Awards Nearly $2 Million t...
09/09/201603:02:00Walgreens To Divest Additional Stores -- WSJ
09/08/201610:20:00Walgreens to Divest Additional Stores
09/08/201610:09:00Walgreens to Divest Additional Stores for Pending Rite Aid Tie-up
09/01/201608:08:00On BizWireTV: Autonomous Security Robot Sees over 800 Potential...
08/29/201611:40:00Walgreens Forms Alliance With Prime Therapeutics
08/29/201610:10:00Rite Aid to Offer Naloxone Without Prescription in 13 States
08/26/201609:00:00Rite Aid Foundation Donates Additional $50,000 to American Red...
08/26/201608:08:00On BizWireTV: Big Name Brands Join Louisiana Relief Effort and...
08/23/201609:00:00Rite Aid’s RediClinic and Hackensack Meridian Health Form Joint V...
08/17/201613:33:00Rite Aid and EnvisionRx Collaborate to Improve Medication Adherence...
08/16/201609:10:00Flu Shots Now Available at Rite Aid
08/15/201616:54:00Rite Aid Foundation Donates $50,000 to American Red Cross to...

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