Rite Aid Corporation (NYSE:RAD) has released its monthly sales report for January, showing a sales decrease of 2.1% over the year ago period. Pharmacy same store sales for the four weeks ended January 23, 2010 also went down 2.1%. The results included a 210 basis points negative impact resulting from new generic introductions. Total drugstore sales for the month declined to $1.913 billion, 3.3% less than the $1.978 billion reported during the previous year’s comparable period. Prescription revenue made up 69.3% of the company’s drugstore sales, while third party prescription revenue made up 96% of the company’s pharmacy sales.
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Rite Aid Corporation is a retail drugstore chain in the United States. The Company operates its drugstores in 31 states across the country and in the District of Columbia. As of February 28, 2009, it operated 4,901 stores. In its stores, the Company sells prescription drugs and an assortment of other merchandise, which it calls front-end products. During the fiscal year ended February 28, 2009 (fiscal 2009), prescription drug sales accounted for 67.2% of its total sales. The Company offers approximately 28,000 front-end products, which accounted for the remaining 32.8% of its total sales during fiscal 2009. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise, and other everyday and convenience products, as well as photo processing. It offers approximately 3,300 products under the Rite Aid private brand.
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