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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.

Results for RAD
Stockaholics
20 Apr 14 13:18:14
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20 Apr 14 11:40:02
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Stockaholics
20 Apr 14 09:53:03
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20 Apr 14 09:34:46
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Stock Herald
20 Apr 14 05:17:11
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/YfiilRWJfH
Informer
20 Apr 14 04:06:05
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/3efPE3jm0Z
GavinGreenberg
20 Apr 14 03:06:05
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/SxxLrmJNhN
GavinGreenberg
20 Apr 14 03:01:09
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/GdZxwJqiRS
Stock Herald
20 Apr 14 02:56:07
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/oXcbKgs2v0
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20 Apr 14 02:35:04
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Stock Herald
20 Apr 14 02:02:06
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/YfiilRWJfH
Informer
20 Apr 14 01:01:07
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/3efPE3jm0Z
Ernest Partington
20 Apr 14 00:57:35
$RAD Rite Aid's 4th Quarter Earnings Release - The Growth Story Starts http://t.co/LH3BTOmoMd
Ernest Partington
20 Apr 14 00:51:34
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TradersTopNews
20 Apr 14 00:45:34
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GavinGreenberg
20 Apr 14 00:34:03
$RAD: Rite Aids 4th Quarter Earnings Release - The Growth Story Starts http://t.co/SxxLrmJNhN
LoveStockNews
20 Apr 14 00:27:02
$RAD - Rite Aids 4th Quarter Earnings Release - The Growth Story Starts -> http://t.co/4WVgppUsmU #stock #stocks #stockaction
Seeking Alpha
20 Apr 14 00:10:43
Rite Aid's 4th Quarter Earnings Release - The Growth Story Starts http://t.co/kf6lIhf5pF $RAD
Del Keen
19 Apr 14 19:28:03
@uthmanhakeem still holding $RAD~>?
Jaime Carreño
19 Apr 14 14:47:44
I'm really liking $RAD and $RNN's potential! !
Fin_Vestor
19 Apr 14 14:15:45
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Large Void
19 Apr 14 12:45:12
@ACInvestorBlog laggard vs $CVS and $RAD
Insider Trade Alerts
19 Apr 14 12:34:44
$RAD Rite Aid Is on the Ri http://t.co/f43GrlgPq4
Irrelevant Investor
19 Apr 14 08:09:27
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Jon Boorman, CMT
19 Apr 14 08:04:44
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Joey
19 Apr 14 03:09:41
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Fin_Vestor
19 Apr 14 00:15:43
$RAD Rite Aid Is on the Right Track http://t.co/1ZcTO039su
Fin_Vestor
18 Apr 14 23:09:16
$RAD NYSE most active stocks: Rite Aid Corporation (NYSE:RAD), General Electric ... http://t.co/XX0VMUnMmz
Travis Howard
18 Apr 14 22:46:04
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POWExR
18 Apr 14 21:10:58
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nyse.ru.com
18 Apr 14 20:59:39
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Fin_Vestor
18 Apr 14 19:20:03
$RAD Man Gets 17 Years for Shooting Rite Aid Manager http://t.co/aTC8wfhnxi
Fin_Vestor
18 Apr 14 18:35:33
$RAD Man Gets 17 Years for Shooting Rite Aid Manager http://t.co/wR4mf7n0gh
Brian Nichols
18 Apr 14 15:44:56
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Fin_Vestor
18 Apr 14 14:29:07
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Stock Herald
18 Apr 14 14:01:04
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Informer
18 Apr 14 13:41:13
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Stock News 24
18 Apr 14 13:34:29
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Team Gold
18 Apr 14 12:18:48
$RAD Another Key Upgrade for Rite Aid. "Rite Aid r: $RAD Another Key Upgrade for Rite Aid. "Rite Aid recently ... http://t.co/WETntqfZDm
US Banking News
18 Apr 14 10:40:52
Insider Selling: Robert Ivan Thompson Sells 25,566 Shares of Rite Aid Stock $RAD http://t.co/jpvetUwxdv
US Banking News
18 Apr 14 10:25:15
Rite Aid EVP Robert Ivan Thompson Sells $179,729 in $RAD http://t.co/X6OwUWjo63
US Consumer News
18 Apr 14 10:24:44
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Extreme Stocks
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  +Follow September 19, 2013 11:33AM
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