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Front-end same store sales declined 4.5% in June, while pharmacy same store sales increased 1.4%. The pharmacy same store sales included an approximate 484 basis points negative impact from new generic introductions.
Excluding sales from the acquired Brooks Eckerd stores, June comps were flat compared to the prior-year period. Front-end same store sales decreased 4.4%, while pharmacy comps increased 2.6%.
June sales at the acquired Brooks Eckerd stores dropped 1.8% year-over-year, with front-end same store sales decreasing 5% and pharmacy same store sales decreasing 0.7%.
The company also reported a 2.5% slide in its June total drugstore sales to $1.98 billion from $2.02 billion for the same period last year. Prescription revenue accounted for 67.9% of drugstore sales, and third party prescription revenue represented 96.3% of pharmacy sales.
For the month of May, Rite Aid's same store sales had increased 0.6%, though total drugstore sales declined 1.3% to $2.507 billion. Front-end same store sales were down 1.5%, while pharmacy same store sales advanced 1.6% from the May last year.
For the 17-week period ended on June 27, the company's same store sales increased 0.3%, as front-end same store sales dropped 2.3% and pharmacy same store sales rose 1.6%.
Total drugstore sales for the year-to-date period were down 1.5% to $8.48 billion from $8.61 billion a year ago. Prescription revenue represented 68.1% of total drugstore sales, and third party prescription revenue was 96.3% of pharmacy sales.
For the recently closed first quarter, Rite Aid had reported a net loss that narrowed from a year ago, as same-store sales grew slightly. The Camp Hill, Pennsylvania-based company's net loss attributable to common stockholders was $98.47 million, or $0.11 per share, compared with $162.79 million, or $0.20 per share, in the year-ago quarter. Revenues declined to $6.53 billion from $6.61 billion in the previous year.
Rite Aid's same store sales for the first quarter were up 0.6% over the year-ago period, consisting of a 1.6% decrease in front end same-store sales and a 1.6% increase in pharmacy same-store sales. Excluding the acquired Brooks Eckerd stores, same-store sales for the first quarter increased 1.5% over the year-ago period, with front end same-store sales decreasing 1.4% and pharmacy comps growing 3.1%.
As of June 27, the company operated 4,822 stores compared with 4,988 stores a year ago.
Rite Aid's competitor Walgreen Co. (WAG | Quote | Chart | News | PowerRating) has posted 3.4% growth in comparable-store sales for the month of June, as consumers filled more prescriptions. However, comparable front-end sales edged down 0.9%, impacted by weak sales of seasonal items. The Deerfield, Illinois-based company's sales for the month of June were $5.24 billion, an increase of 9.0% from $4.80 billion in the year-ago period.
Walgreen's June pharmacy sales advanced 11%, while comparable pharmacy sales increased 5.8%. Comparable pharmacy sales were negatively impacted by 4.4 percentage points due to generic drug introductions in the last 12 months, Walgreen said.
RAD is trading at $1.40, down $0.13, on a volume of 3.82 million shares.
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