By Jeffrey Himelson:
Rite Aid (NYSE:RAD) recently released its July sales figures. The same store sales growth reported was compelling, with a 4.6% y/y increase. Exceptional growth was derived from pharmacy sales with a 6% expansion, even when including a 2.03% negative impact from new generic introductions. Moreover, front-end same store sales were also positive, increasing 1.5% y/y.