Rite Aid Corporation (NYSE:RAD) Reports Same Quarter Sales For April Month

Rite Aid Corporation (NYSE:RAD) announced the results for same quarter sales for the month of April. While the monthly sales increased 3%, yearly sales showed a growth rate of 3.6%.

Do analyst foresee a momentum shift in RAD?

Factors That Affected Monthly Sales:

Rite Aid announced the sales figures for the four-week period that ended on April 25, 2015. It witnessed an inclination of 3% in the same store sales on YOY basis. When it comes to April front-end same store sales, Rite Aid reported a reduction of 0.5%. As per the reports, the front-end same store sales were adversely affected 0.9% due to a shift in the Easter Timing.

Pharmacy same store sales also increased 4.6% in the April Month. The performance was beyond expectations as previously it was impacted negatively due to various new generic introductions. The pharmacy same store sales included 145 basis points that indicated that it would end up as one of the driving factors for below expectations performance in April. But Rite Aid management’s sheer hard work turned unfavorable into favorable. Prescription count at comparable stores rose 1.8% on YOY.

Total drugstore sales for April month increased 2.4% and touched $2.042 billion compared to previous year’s $1.995 billion sales. Total third-party prescription sales were 97.7% of pharmacy sales while the prescription sales were 68.9% of drugstore sales.

Year-To-Date Performance:

Same store sales for a period of eight weeks ended April 25, 2015 increased 3.6% YOY. Prescription count at comparable sales increased 2.2% YOY while front-end same store sales and pharmacy same-store sales elevated 1% and 4.9% respectively.

Total drugstore sales for the same period were $4.068 billion, up 3.2% from last year’s $3.941 billion. Third party prescription sales were 97.7% of pharmacy sales while prescription sales were 69.4% of total drugstore sales.

Management of the company expects the market conditions to improve; thus, hopes that it will have a positive impact on revenues.

 

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Brown Terrel

Brown Terrel

Terrel is US Markets Daily’s business news reporter. She joined US Markets Daily after five years as a print reporter.