Inside This Issue - News
Same-store sales revival at Rite Aid
July 11th, 2011
CAMP HILL, Pa. – Rite Aid Corp. is in the midst of a same-store sales resurgence.
In June the drug chain saw same-store sales edge up 1.8%, exceeding the 1.3% gain in May. Except for virtually flat results in March, Rite Aid has turned in same-store sales increases each month since December — before which time it hadn’t reported a monthly gain since May 2009.
Same-store sales in June rose 1.5% at the front end and 1.9% in the pharmacy. For the 17-week year-to-date period ended June 25, same-store sales were up 1%.
Rite Aid has generated sales momentum via such efforts as its wellness+ rewards program, now with nearly 40 million members, and customer segmentation strategy, in which stores are tailored to meet a particular market’s needs. Chief operating officer Ken Martindale said during a recent store tour that Rite Aid is becoming more adept at getting consumers to come in and shop its outlets.
"One of the things we’re seeing with wellness+ is that we’re improving the engagement level. Consumers are seeing that, ‘If I’m a good pharmacy patient, there’s a tremendous opportunity for me to save in the front end of the store, so I’d rather shop here than go somewhere else,’ " he said. "One of the key drivers for us is how do we get customers in the front end back to the pharmacy, and the ones in the pharmacy out into the front end. Part of that is giving them the products that they need, a good loyalty program that supports them and a layout that is easy for them to shop."