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RAD: June Sales Send Rite Aid Stock Higher

Year-over-year (YoY) sales increased 3.5% to $1.995 billion


Rite Aid (RAD) stock is up over 5% following the company’s impressive sales results for June.

RADThe retailer’s year-over-year sales increased 3.5% to $1.995 billion from $1.927 billion in June last year. Rite Aid’s same-store sales increased 3.9% YoY, beating analysts’ estimats of a 2.6% increase.

Front-end comparable sales rose 0.9% and pharmacy comparable sales increased 5.4%, beating estimates of a 0.7% increase and a 3.9% increase respectively.The pharmacy suffered a minor hit with sales decreasing by 1.69% due to the introduction of generic drugs.

Rite Aid’s drugstore sales increased 2.8% to $8.42 billion on a year-to-date basis from the same period last year.

Walgreens (WAG) also posted an impressive sales report with June sales increasing 8.9% year-over-year to $6.28 billion. The company’s same-store sales rose 7.5%, beating analysts’ estimate of a 6.8% rise.

RAD stock is up 5.58% Thursday afternoon. WAG stock is up 1.29%.

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