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Rite-Aid Private Label Penetration Soars In Quarter

December 21, 2012
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Rite-Aid said on a conference call with analysts this week that its private label penetration in the third quarter rose 1.3 percent from a year ago, soaring to 18.1 percent.

That would still put it slightly behind 2011 estimates of 18.3 percent private label sales, according to the PLBuyer Top 35 list. Rite-Aid ranked 26thon the list this year with $26.1 million in private label sales.

“Customers continue to respond positively to our new and improved Rite Aid brand architecture,” Rite-Aid Chief Operating Officer Ken Martindale told analysts, according to transcripts from Seeking Alpha. “We have followed up on last year’s conversion of 2,900 items to this new architecture by enhancing the package designs of our seasonal private brand items. “

Rite-Aid reported same-store sales declined 1.5 percent in the third quarter, led by a 2.7 percent decline in pharmacy same-store sales, but because of a strong performance in generic drugs in the quarter, the company showed profits of $61.9 million, or 7 cents a share. That was up from a loss of $52 million, or 6 cents a share, in the third quarter of 2011.

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