Rite Aid Same-Store Sales Fall in Dec.
Camp Hill, Pa. Rite Aid Corp. said Monday its sales fell 2.1% in December due to weaker non-prescription sales at older stores and a continued slump at Brooks Eckerd stores.
The company has also closed more than 200 stores in the past year in an effort to eliminate some of its struggling locations.
Total drug store sales fell to $2.16 billion in the four weeks ended Dec. 27, compared with $2.2 billion a year earlier. Same-store sales fell 0.2%, with pharmacy sales edging up 1.2% and front-end sales down 2.4%.
Rite said same-store sales at Brooks Eckerd locations fell 1.6%. Excluding results from Brooks Eckerd, Rite Aid's same-store sales grew 0.5%. Pharmacy sales grew 2.9%, just canceling out a 2.7% drop in front-end revenue.
Rite Aid said 62.5% of its revenue came from prescriptions.
The company said its sales are up 10%, to $21.66 billion from $19.71 billion, in the first 43 weeks of Rite Aid's fiscal year. Same-store sales in the period are up 1%.