Same-store sales overall were up 2.5%, retailpharmacy leading the way with a 3% gain and front-of-store products up 1.4% to reflect a slight improvement in discretionary consumer spending in the July-September period.
They manage members of the insurance companies, build the lists of approved drugs for manufacturers and reimburse the retail pharmacies for the difference between the true cost of a drug and the co-pay amount that a customer of a retailpharmacy plays.
It won't be easy: Mail-order services, new generic products and shrinking reimbursements from Medicare and Medicaid have hampered retail-pharmacy sales of prescription drugs, which account for 63% of Rite Aid's top line.