Rite Aid Corporation (NYSE:RAD) has released a report detailing the sales results for the four weeks ended March 27, 2010. The company’s store sales have been reported to have gone down by 0.1% compared to the year ago period. The company’s front end same store sales have increased by 1.8% which was positively impacted by an earlier Easter. Rite Aid’s pharmacy same store sales experienced a negative impact by 1.0% from the introduction of generic products. Prescriptions were filled at comparable stores showed a 1.3% decline of the year ago period.
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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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