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Rite Aid Skyrockets on Impressive Earnings Report

  +Follow September 19, 2013 11:33AM
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Drugstore chain Rite Aid Corporation (RAD) issued their second quarter earnings report on Sept. 19, showing that the company’s turnaround has not slowed a bit. The company posted increased sales, notably in the key same-store sales metric, and a marked growth in the pharmacy department, upending analyst expectations.

The drugstore, which for a time flirted with bankruptcy, is in the midst of a massive turnaround.  After posting one lone profitable quarter in five years, Rite Aid has posted net gains over the last four quarters, and this one comfortably trumped analyst expectations.

Of particular excitement for Rite Aid is growing pharmaceutical sales. In a conference call with investors, Chief Financial Officer Frank G. Vitrano said, “The (sales) increase was due to higher pharmacy sales. Overall same-store sales increased 1% in the quarter, reflecting a higher pharmacy inflation rate,” referencing the chain’s aggressive expansion of that division, including the completion of the 1,000th Wellness Store remodel.

For their second quarter 2013 earnings report, Rite Aid reported a net profit of $32.8 million, or $0.03 per share, versus the net loss of $39 million, or -$0.05 per share, from the same period a year ago. Revenue for the quarter was $6.3 billion, as compared to $6.253 billion from the previous year. Analysts were expecting a loss of -$0.04 per share on revenues of $6.2 billion.

In its history, Rite Aid’s stock has gotten as high as $48.56 a share, in Dec. 1998, before a major accounting scandal racked the company, ending with several key executives, including the company’s CEO, going to jail.

Rite Aid popped on the news, gaining 21.02 percent to hit $4.49 a share. The stock is up a whopping 166 percent on the year, and has gained over 1,000 percent since March 2009, when the stock hit an all-time low of 20 cents a share.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for RAD
The Stock Whisperer
24 Nov 14 11:59:06
5 mil print on $RAD @5.60 bullish above, bearish below, no thinking! http://t.co/cbd9Z6hhqS
Consestimate
24 Nov 14 11:28:48
Rite Aid Adds Quality Independent Physicians To Its Health Alliance Program. $RAD, $SO, $HSY. http://t.co/aQlgc5zwfS http://t.co/WU23trSSQO
Wu Weed
24 Nov 14 11:27:19
wu tang $rad @riteaid wu tang hod
Helmer
24 Nov 14 11:23:36
$RAD It's on!!!!!!
Nate Griffin
24 Nov 14 11:22:09
$RAD still trending higher.
Fed Porn
24 Nov 14 11:14:56
Someone or software bought 5m shares of $RAD. hmmmm
Fed Porn
24 Nov 14 11:14:07
RT @BlockTradeAlert: BLOCK TRADE: $RAD 5,000,000 shares @ $5.60 [14:13:51]
BlockTradeAlert
24 Nov 14 11:13:52
BLOCK TRADE: $RAD 5,000,000 shares @ $5.60 [14:13:51]
KING ALLIANCE
24 Nov 14 11:13:23
$RAD 🚀
Dave
24 Nov 14 11:04:26
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Marcello Scarlato
24 Nov 14 10:51:31
Black Friday: Retailers above and below the sector discounting average http://t.co/hMtQNVZmVA $JCP $M $RAD $SHLD
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24 Nov 14 10:38:58
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24 Nov 14 10:21:30
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Stock Rocket
24 Nov 14 10:12:55
Thanks to the 5 pro traders at http://t.co/5jbX6mNKQv for an amazing week! My win rate was 80%. So sweet. $RAD $AMD $FCEL $IAG
Penny Stock Secret
24 Nov 14 09:38:12
Premium Alerts Ranked #1 For Gains 2534% Last Week http://t.co/SVqoMlijqL .. $RAD $SBGI $MEG
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24 Nov 14 09:34:30
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $CWCO $RAD $HZNP
Clayton Gilman
24 Nov 14 09:18:46
$RAD out 5.60 HOD +5
Extreme Stocks
24 Nov 14 09:12:07
leahanne: Volume Alert - RAD 5.56 Rite Aid Corp $RAD Hit a http://t.co/uJ2noD2sil
Trefis.com
24 Nov 14 09:11:44
Rite Aid Adds Quality Independent Physicians To Its Health Alliance Program http://t.co/nkkzp2qTlG by Trefis Team $RAD $CVS $WAG
leahanne
24 Nov 14 09:02:29
Volume Alert - RAD 5.56 Rite Aid Corp $RAD Hit a high today of 5.60 Closing the day 10:30 at 5.56 +0.01 +0.18% http://t.co/KQ6RwcDQp6
leahanne
24 Nov 14 09:02:02
$RAD Volume Alert - RAD Stock 5.56 Rite Aid Corp $RAD Hit a high today of 5.60 Closing the day 10:30 at 5.56 +0.01 http://t.co/uyBi1Bj38X
MarketCurrents
24 Nov 14 09:01:18
Black Friday: Retailers above and below the sector discounting average http://t.co/9xP6ZayGi8 $JCP $M $RAD $SHLD
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24 Nov 14 09:00:50
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $INO $INNO $RAD
Penny Stock Secret
24 Nov 14 08:56:05
Premium Alerts Ranked #1 For Gains 2534% Last Week http://t.co/SVqoMlijqL .. $ALTO $USA $RAD
Jared
24 Nov 14 08:48:09
@allstarcharts Buying $RAD and $MHR.
Trader News Daily
24 Nov 14 08:24:55
Wow http://t.co/PeRPkZkWiw just posted last weeks results. +429%. Crazy. They offer a free trial too. $FTR $RAD $OIBR $GGB $ACI $AMD
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24 Nov 14 08:15:11
Join thousands of traders at http://t.co/30Wzoc9t1Q. 5 pro trading gurus alerted 500% gains last week. $GSAT $BBRY $ZNGA $RAD $ARIA
Clayton Gilman
24 Nov 14 08:13:48
$RAD in low of day @ 5.55
Jared
24 Nov 14 08:12:17
@RiskReversal Looking to buy $RAD. Like the risk/reward here and less expensive than both $WAG and $CVS.
Jared
24 Nov 14 08:11:36
@jimcramer Buying $RAD. Cheaper than both $CVS and $WAG.
Penny Stock Secret
24 Nov 14 07:59:06
Premium Alerts Ranked #1 For Gains 2534% Last Week http://t.co/SVqoMlijqL .. $INO $INNO $RAD
StockNews
24 Nov 14 07:28:53
$RAD - Rite Aid’s Three Big Days to Save Returns to Mark the Official Start of the Holiday Shopping Season http://t.co/pWmGNDlBJH
NASDAQ
24 Nov 14 07:28:40
$RAD - Rite Aid’s Three Big Days to Save Returns to Mark the Official Start of the Holiday Shopping Season http://t.co/n7u05ITF9V
Stocks News&Markets
24 Nov 14 07:28:34
$RAD - Rite Aid’s Three Big Days to Save Returns to Mark the Official Start of the Holiday Shopping Season http://t.co/5LlrzBSIip
superlativestocks
24 Nov 14 07:25:18
Volume Sizzlers: http://t.co/Z9myvJO1Bo $RAD $DIS $A $SNDK #VolumeSizzlers
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24 Nov 14 07:25:00
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Dave
24 Nov 14 07:15:47
I didnt know the pro members get the opening bell alerts from http://t.co/qY5MPlJPrU 1 day early. $DNR $JCP $ATVI $SD $RAD $GG
KING ALLIANCE
24 Nov 14 07:09:28
$RAD 💪 starting to ignite 🔥
Penny Stock Secret
24 Nov 14 06:37:07
Premium Alerts Ranked #1 For Gains 2534% Last Week http://t.co/SVqoMlijqL .. $CWCO $RAD $HZNP
KING ALLIANCE
24 Nov 14 05:50:37
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23 Nov 14 21:58:53
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23 Nov 14 20:52:15
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23 Nov 14 20:17:52
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Stock Rocket
23 Nov 14 19:08:57
Thanks to the 5 pro traders at http://t.co/5jbX6mNKQv for an amazing week! My win rate was 80%. So sweet. $RAD $AMD $FCEL $IAG
Trader News Daily
23 Nov 14 19:06:53
Wow http://t.co/PeRPkZkWiw just posted last weeks results. +429%. Crazy. They offer a free trial too. $FTR $RAD $OIBR $GGB $ACI $AMD
Stockaholics
23 Nov 14 18:10:57
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $RAD $SBGI $MEG
Stock Rocket
23 Nov 14 15:58:41
Thanks to the 5 pro traders at http://t.co/5jbX6mNKQv for an amazing week! My win rate was 80%. So sweet. $RAD $AMD $FCEL $IAG
leahanne
23 Nov 14 15:38:24
Volume Alert - RAD 5.55 Rite Aid Corp $RAD Hit a high today of 5.63 Closing the day 11/21/14 at 5.55 +0.03 +0. http://t.co/XlxfS4wu1Z
Stockaholics
23 Nov 14 14:42:53
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $CWCO $RAD $HZNP
				
				
  +Follow September 19, 2013 11:33AM
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