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Pastimes : John Dessauer's Investors World
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To: DWB who wrote ()9/29/1999 7:50:00 PM
From: polarisnh  Read Replies (2) of 2346
 
Rite Aid says September same-store sales rise

CAMP HILL, Pa., Sept 29 (Reuters) - Drugstore chain Rite Aid Corp. (NYSE:RAD - news) said Wednesday that September same-store sales rose 8.3 percent led by pharmacy same-store sales increases of 16.7 percent.

The drug-store chain said front-end same-store sales dropped 2.0 percent for the four weeks ended September 25.
Rite Aid said same-store sales for the 30-week period increased 9.4 percent with a 19.2 percent pharmacy same-store sales increase and a 2.1 percent decrease in front-end same-unit sales.

Rite Aid said total drugstore sales for the four-week period rose 8.7 percent to $1.00 billion compared to $923.6 million. Prescription revenue accounted for 59.3 percent of drugstore sales, and third-party prescription revenue represented 87.8 percent of pharmacy sales.

Total drugstore sales for the 30 weeks ended September 25 rose 8.7 percent to $7.53 billion from $6.93 billion. Prescription revenue comprised 58.6 percent of total drugstore sales, and third-party prescription revenue was 87.4 percent of pharmacy sales.

Rite Aid is facing a lawsuit by the State of Florida alleging the company used rigged cash register software to systematically boost prescription prices for uninsured customers.

Shares of Rite Aid closed down 5/16 on the New York Stock Exchange at 13-15/16, far below their one-year high of 13-15/16 and just above their one year low of 11.
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