Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

RITE AID Rx SALES LEAP 18% IN FIRST QUARTER TO $146 MIL.; CHAIN OPENS 21 STORES

Executive Summary

Rite Aid Rx sales jumped 18% to $145.8 mil. in the May 31 first quarter compared to $123.3 mil. in the same 1985 period. "During the first quarter, prescription sales strengthened to 37% of drugstore revenues, up from 35.5% in the previous year," the chain stated. Total sales for the retail drug division rose 13.4% to $394 mil. from $347.4 mil., and Rite Aid attributed the division's strong performance to "the continuing deflationary trend in retail pricing." The chain said that for the three months, its rate of inflation declined on an annualized basis from 4.2% to 2.3%. Corporate revenues increased to $418.7 mil. for the quarter, a 14.1% gain over revenues of $367.1 mil. during the same period last year. Net income during the quarter advanced 11.4% to $16.4 mil. from $14.7 mil. in 1985. Excluding income from equity interest in Superdrug and Super Rite Foods net earnings rose 15.7% to $15.8 mil. from $13.7 mil., the chain noted. During the quarter, Rite Aid opened 21 new drugstores and closed three, a net gain of 18 stores. One of the new drugstores was a Drug Palace deep discount unit. Rite Aid now operates 12 Drug Palace stores. Chart omitted.

You may also be interested in...



Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth

UsernamePublicRestriction

Register

LL1133990

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel