Rite Aid reports increase in same-store sales; Brooks Eckerd stores sales turning positive

CAMP HILL, Pa. Rite Aid Co. has announced its sales results for October, showing positive changes in same-stores sales and a sunny outlook for the newly acquired Brooks/Eckerd stores, the company said today.

For the month of October, same stores sales were up 2.9 percent compared to October 2007. Same stores sales, not including Brooks/Eckerd stores, were up 4.1 percent from the same period last year. Rite Aid said that front-end same-stores sales were up 4.3 percent and pharmacy same-store sales saw an increase of 4 percent (including a negative impact of 272 basis points due to introductions new generic drugs).

At Brooks/Eckerd stores, same store sales were steady, up 0.4 percent over October 2007. This showed a small recovery from a minimal decline of 1.2 percent decline for the month of September. Brooks/Eckerd’s front-end same store sales were up 6.9 percent.  Pharmacy saw a small decrease—down 1.6 percent compared to the previous year, but this was an improvement over September when a 2.9 percent decline was reported, Rite Aid said.

“We are pleased with our October sales, particularly considering the weak retail environment,” Mary Sammons, chief executive officer and chairman of Rite Aid said in a statement. “Core Rite Aid stores once again produced solid sales increases while the turnaround at the former Brooks Eckerd stores continued with same store sales turning positive for the first time since before the acquisition.”

Total drug store sales for October remained steady with a 0.5-percent increase to $1.997 billion, over $1.986 billion for October 2007. Prescription drug sales accounted for 68.2 percent of total drug store sales. Third party prescription drugs comprised 96.3 percent of pharmacy total sales.

More information on Rite Aid is available at www.RiteAid.com.