CAMP HILL, Pa. — Sales may have been flat overall, but a closer look revealed there was a lot to be positive about in Rite Aid’s fiscal first quarter 2012 earnings, as the company managed significant expense improvement and stronger same-store sales growth. Bottom line: Rite Aid narrowed its losses considerably, and that ain’t all expense control.
Driving the growth in same-store sales is Rite Aid’s Wellness+ loyalty card program, which company president and CEO John Standley told analysts during a June 23....