A jump in pharmacy revenue fueled June sales growth for two of the nation’s largest drugstore chains, and they may start adding gains from the health care overhaul later this year.
Walgreen Co. and Rite Aid Corp. said Thursday pharmacy revenue from their established stores climbed more than 11 percent at Walgreen and 5 percent at Rite Aid last month. Walgreen runs the nation’s largest drugstore chain with 8,215 stores. Rite Aid ranks third with 4,754. The company in the middle, CVS Caremark Corp., doesn’t report monthly results.
Overall, Walgreen’s revenue from established stores rose 7.5 percent in June, while Rite Aid’s climbed about 4 percent. Slower growth from the retail area outside the pharmacy tempered the pharmacy gains.
Last month included one extra Monday and one less Saturday than June 2013, and Walgreen cited that as a factor behind its growth.