Just because they shop at a store known for its convenient locations rather than low prices doesn’t mean cash-strapped consumers aren’t looking for a bargain.
 
Rite Aid said on Thursday that its customers sought out more general merchandise that was on sale in the latest quarter compared with a year earlier. The company did not change its promotions, customers just bought more items that were on sale.
 
That tidbit from Chairman, President and Chief Executive Mary Sammons during Rite Aid’s fiscal first-quarter conference call sparked interest. The first analyst to ask a question on the company’s conference call asked for more detail on the issue.

“They are just buying more economically and I think it’s undoubtedly related to their economic condition and the cost of fuel, etcetera,” Sammons said.
 
She also said that Rite Aid saw customers buying more products at promotional prices throughout last year.
 
Rite Aid’s sales of general merchandise at stores open at least a year rose just 1.6 percent in the fiscal first quarter after rising 2.1 percent a year earlier and just 1.2 percent in the company’s fiscal fourth quarter.
 
Larger rival Walgreen’s same-store sales of general merchandise rose 5.6 percent in its quarter ended May 31, and such sales rose 6.6 percent in the latest full quarter over at CVS, which ended on March 31.