Retail drugstore chain operator Rite Aid Corp. (RAD) on Thursday reported a 1.5 percent decline in same-store sales for the month of May, reflecting a slight decline in prescription count and lower pharmacy same-store sales.
Front-end same-store sales for the month edged up 0.8 percent, while pharmacy same store sales, including a nearly 373 basis points negative impact from new generic introductions, declined 2.7 percent.
The company noted that prescription count at comparable stores decreased 0.3 percent over the prior-year period.
Camp Hill, Pennsylvania-based Rite Aid reported that total drugstore sales for the five weeks ended June 1, 2013, declined 1.5 percent to $2.42 billion from $2.46 billion in the same period last year. Prescription sales accounted for 67.0 percent of drugstore sales, while third party prescription sales represented 97.0 percent of pharmacy sales.
For the first quarter, the company's same store sales declined 2.5 percent from the year-ago period. Front end same store sales increased 0.4 percent over last year, and pharmacy same store sales declined 3.8 percent.
Total drugstores sales for the quarter were $6.24 billion, down 2.8 percent from $6.44 billion in the comparable quarter a year ago. Prescription sales accounted for 67.5 percent of total drugstore sales, while third-party prescription sales represented 97.0 percent of pharmacy sales during the quarter.
RAD closed Tuesday's regular trading session at $1.21, up $0.01 on a volume of 3.79 million shares.
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