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Rite Aid PL Penetration Climbs, Net Loss Falls in Latest Quarter

April 14, 2011
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Rite Aid's private label penetration increased to 16.5 percent from 15.4 percent during the final quarter of fiscal 2010, John Standley, president and CEO, said in a statement accompanying the company’s latest earnings report.

Rite Aid's private label penetration increased to 16.5 percent from 15.4 percent during the final quarter of fiscal 2010, John Standley, president and CEO, said in a statement accompanying the company’s latest earnings report.

 

“We continued the rollout of our new private brand architecture and now have over 1,000 items converted,” he said. “We are on track to have 2,200 items in these brands in fiscal 2012.”

 

The increase in private label sales and the restructuring of Rite Aid's private label brands is the Camp Hill, Pa.-based pharmacy chain's response to the American consumer's continued frugality, the company says.

 

Rite Aid reported a fourth quarter net loss of $205.7 million compared with a net loss of $208.4 million in the same period the prior year. Revenues for the quarter reached $6.5 billion, roughly the same as the previous’ year’s fourth quarter. Same store sales were up 0.9 percent compared to the same quarter last year.

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