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Rite Aid's (RAD) July Comps Rise 2.4% on Strategic Initiatives - Analyst Blog

Drugstore chain retailer Rite Aid Corporation RAD reported healthy sales results for the month of July. The company’s comparable-store sales (comps) for the four weeks ended Jul 25, 2015 rose 2.4% year over year, reflecting an increase in front-end and pharmacy comps as well as rise in prescription count at comparable stores.

Pharmacy comps went up 3.4%, including a negative impact of nearly 221 basis points from generic drug introduction. Front-end comps improved 0.1% while prescription count at comparable stores inched up 0.7% year over year.

Rite Aid’s total drugstore sales for the month came in at $2.016 billion, up 2.1% from the year-ago figure of $1.975 billion. Prescription sales constituted 69.2% of total drugstore sales and third-party prescription sales accounted for 97.8% of pharmacy sales.

Year to date, this Zacks Rank #3 (Hold)...