Rite Aid gave out 4.7 million Covid-19 vaccines in its first quarter. This helped to boost sales.
The drugstore chain reported Thursday sales increased 2% to $6.2 billion in quarter ended May 29, compared with $6 billion in year-ago quarter. Rite Aid reported a loss in the quarter ended May 29th of $13 million. This was down from $63 million in year-ago due to improved retail pharmacy performance.
Rite Aid, like its bigger rivals Walgreens and CVS Health, has played a crucial role in the administration of Covid-19 vaccines that helped end the pandemic. Rite Aid operates more than 2,500 stores in 17 locations across the U.S.
Heyward Donigan, Rite Aid chief executive, stated that more than 6 million COVID-19 shots have been administered since the beginning of shots in late fiscal year.