Drugstore chain Rite Aid
Today, Rite Aid reported a 2.4% increase in same-store sales; pharmacy sales were up 1.7% while front-end same-store sales increased 3.5%. Overall sales at Rite Aid increased 2.0% to $1.283 billion.
Earlier this afternoon, though, Fool contributor Steven Mallas explored Walgreen's far sunnier June sales figures, which just made Rite Aid's June look kind of sad, despite the increase. After all, Walgreen posted double-digit same-store sales gains as well as a whopping 15% boost in overall sales. CVS
Meanwhile, all these retailers also face competition from superstores like Wal-Mart
Meanwhile, Rite Aid's same-store sales improvements have been becoming less pronounced over recent months. Although Rite Aid shares were recently trading at about $4.95, they're actually trading at 22 times forward earnings. Add to that a hazy outlook on how well the company will be able to compete with its archrivals, especially once CVS has J.C. Penney's
Can Rite Aid pull ahead? Talk about the ongoing rivalries within the drugstore industry on the Walgreen discussion board.
Alyce Lomax does not own shares of any of the companies mentioned.