News

Easter delivers April revenue bump for Rite Aid

Written by The Associated Press | May 2, 2014 5:46 AM
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(Camp Hill) -- An Easter holiday that came late this year and growing pharmacy sales have pushed Rite Aid's revenue from established drugstores five percent higher last month.

The nation's third largest drugstore chain, based in Cumberland County, says revenue from the front-end of stores open at least a year climbed 4.7 percent. The front-end includes everything outside of the pharmacy.

Rite Aid attributes most of that growth to Easter, which fell on April 20th this year compared to March 31st last year. The timing of the holiday hurt sales last month.

Pharmacy revenue from those established locations climbed 5.2 percent in the four-week period that ended April 26th, despite a hit from generic drug introductions. Those hurt revenue because they're cheaper than their brand-name counterparts.

Prescriptions accounted for 68 percent of drugstore revenue.

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