Rite Aid Corp. reported sales results for the month, fourth quarter and full year ended February 27, 2010. For the five weeks ended February 27, 2010, same store sales decreased 3.2% over the prior-year period. Front-end same store sales decreased 3.2% while pharmacy same store sales, which included an approximate 206 basis points negative impact from new generic introductions, were down 3.2%. Prescriptions filled at comparable stores decreased 3.4% over the prior-year period. Front-end and pharmacy same store sales were negatively impacted by a weaker cough, cold and flu season than in the like period last year. Front end sales were also negatively affected by severe weather, especially in the northeast and south, and continued weak consumer demand. Total drugstore sales for the five-week period decreased 4.5% to $2.434 billion compared to $2.549 billion for the same period last year. Prescription revenue accounted for 67.9% of drugstore sales, and third party prescription revenue represented 95.8% of pharmacy sales. For the 13-week quarter ended February 27, 2010, same store sales decreased 2.4% over the prior-year period. Front-end same store sales were down 2.6% while pharmacy same store sales decreased 2.4%. Prescriptions filled at comparable stores decreased 1.7% over the prior-year period. Total drugstore sales for the 13-week third quarter decreased 3.7% to $6.438 billion compared to $6.683 billion in last year's like period. Prescription revenue represented 66.6% of total drugstore sales, and third party prescription revenue was 96.0% of pharmacy sales. For the 52-week period ended February 27, 2010, same store sales decreased 0.9%, consisting of a 2.9% front-end same store sales decrease and a 0.1% increase in pharmacy same store sales. Prescriptions filled at comparable stores increased 0.8% over the prior-year period. Total drugstore sales for the 52 weeks ended February 27, 2010 decreased 2.4% to $25.569 billion from $26.185 billion in last year's like period. Prescription revenue accounted for 67.9% of total drugstore sales, and third-party prescription revenue was 96.2% of pharmacy sales.

Environmentalists and the Mateel Environmental Justice Foundation filed a lawsuit on March 2, 2010, in Superior Court of the State of California, naming eight manufacturers and retailers for distributing fish oil supplements with illegally undisclosed and unnecessarily high levels of contamination with polychlorinated biphenyl (PCB) compounds. PCBs are industrial chemicals recognized for causing cancer and reproductive toxicity. Those named in the lawsuit are: CVS Pharmacy, Inc.; General Nutrition Corporation; NOW Health Group, Inc.; Omega Protein Corp.; Pharmavite LLC; Rite Aid Corp.; Solgar, Inc.; and TwinLab Corp. The plaintiffs in the case tested the fish oil supplements, which are sold as health supplements for their Omega-3 fatty acid benefits, and found PCB contamination above the so-called safe harbor limits set for human PCB consumption under California's Proposition 65. That law requires consumers to be warned about such exposures. However, testing results and what constitutes high levels of contamination are vaguely explained on the frequently Asked Questions of the plaintiffs website.

A California lawsuit aims to push companies that make and sell fish oil supplements to be more upfront about their ingredients, claiming testing showed some brands contain high levels of industrial chemicals. The lawsuit, filed in San Francisco Superior Court, alleges six U.S. manufacturers and two drugstore companies failed to warn the public that products made from fish or shark oil long toted as a source of Omega-3 fatty acids contained polychlorinated biphenyl (PCB) compounds. The lawsuit is based on California law that requires companies to warn consumers about exposure to chemicals that are known to cause cancer or reproductive harm. The initial defendants include Houston-based Omega Protein and Rite Aid Corp. and CVS Caremark Corp. Other defendants are General Nutrition Corp, Now Health Group Inc, Pharmavite LLC, Solgar Inc. and TwinLab Corp. The plaintiffs, who also include two residents of New Jersey, plan to conduct more tests and lengthen the list of defendants as the results come in.

Rite Aid Stores Nationwide Now Accept EBT Cards/Food Stamps

Business events scheduled for Thursday

Business events scheduled for Thursday

Rite Aid February sales decline

Drug abuse agenda moves ahead in W.Va. Legislature

Business events scheduled for the coming week

Business events scheduled for the coming week

Business events scheduled for the coming week

Rite Aid February sales decline

How stores in 4 key sectors fared in February

Drug abuse agenda moves ahead in W.Va. Legislature

UPDATE - Walgreen Feb. sales rise just less than expected

CORRECTED - U.S. fish oil makers, drugstores, sued over supplements

U.S. fish oil makers, drugstores, sued over supplements

Rite Aid's "Fill Up & Fuel Up" Program Returns with Weekly Chances to Win Year's Worth of Free Gas

MGM Mirage, Wal-Mart, Rite Aid are big movers

Healthcare Stock Alert for Rite Aid Corp. Issued by StockPreacher

Healthcare Stock Alert for Rite Aid Corp. Issued by StockPreacher

Rite Aid climbs as analyst talks sale options

TradingMarkets 7 Stocks You Need to Know for Friday