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Easter Shift Stifles Rite Aid Comps

For the four weeks ended March 29, Rite Aid Corp. reported that comparable store sales increased 0.7% versus the prior-year period. March front-end comps, which include results for general merchandise including home goods, slipped 5%, with 4.1 points of the decrease attributable to a shift in the timing of Easter, Rite Aid maintained.

Pharmacy comps increased 3.5%, the company stated, despite a 133 basis point hit from generic drug introductions.

Total store sales for the four-week period advanced 0.4% to $1.95 billion versus year’s month. Rite Aid noted. Prescription revenues accounted for 69.4% of drugstore sales.

As of March 29, Rite Aid operated 4,584 stores versus 4,621 stores a year earlier, the company pointed out.