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Rite Aid Posts Solid Earnings But Cannot Escape Sell-Off

By  +Follow June 20, 2013 9:27AM
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Rite AidIn what appears to be a testament to just how badly markets are reacting to Ben Bernanke’s guidance on Wednesday regarding the end of fiscal stimulus, Rite Aid Corp. (RAD), the third largest drug store chain the in U.S. posted its third straight profitable quarter only to be greeted by a 7 percent drop in share price heading into midday trading.

Fiscal 2013 was the company’s first profitable year since 2007, and Rite Aid expects to be profitable again in the current year. Profits for the most recently ended quarter were at $89.7 million, or $0.09 per share on revenue of $6.29 billion, compared to the prior year period during which the company lost $28 million, or $0.03 per share on revenue of $6.47 billion.

Revenue was down from the prior year due to the company’s increased sales of less expensive but more profitable generic drugs, but beat the average estimate of $6.27 billion, while the $0.09 EPS figure was in keeping with analyst forecasts.

Though the company said it should remain in the black for the current fiscal year, it also revised down its guidance from full-year earnings of between $0.04 and $0.19 per share to between $0.01 and $0.16 per share.

Same-store sales, otherwise known as sales for stores open for longer than one year, a key metric for the retail industry, were down 2.5 percent throughout the quarter, which could at least in part have something to do with the fact that Rite Aid closed some underperforming locations during the period.

The $2.64 billion market cap company competes with Walgreen Co. (WAG) and CVS Caremark Corporation (CVS) in the drugstore chain market, and has seen its stock perform incredibly well over 2013, advancing nearly 130 percent, and almost 200 percent over the past 6 months. Amid Thursday’s broad sell-off, however, shares dipped to as low as $2.87 apiece.

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Results for RAD
Capital Market Labs
18 Apr 15 19:07:50
$CVS vs. $COST vs. $RAD vs. $SYY Compared Across 9 Critical Measures http://t.co/3mC8kIwsA1 http://t.co/05uT6AdVs8
Leilani Pips™
18 Apr 15 14:42:44
RT @InsiderWire: Robert Thompson K EVP Sells $679,562 Worth of $RAD Rite Aid Corporation Common Sto - #Form4 #InsiderTrading - http://t.co/…
JMS
18 Apr 15 14:39:08
RT @AmericanBanking: Insider Selling: Douglas E. Donley Sells 59,404 Shares of Rite Aid Stock $RAD http://t.co/GZfwWvORKW
JMS
18 Apr 15 14:39:05
RT @InsiderWire: Robert Thompson K EVP Sells $679,562 Worth of $RAD Rite Aid Corporation Common Sto - #Form4 #InsiderTrading - http://t.co/…
JMS
18 Apr 15 14:38:56
RT @SeekingAlpha: Rite Aid: 6 Key Takeaways From The FY 2015 Earnings Call http://t.co/uKZMCvUozJ $RAD
Capital Market Labs
18 Apr 15 11:32:28
$RAD vs. $PUSH vs. $SPTN vs. $SVU Compared Across 9 Critical Measures http://t.co/1HSQJS3HVT http://t.co/Py282yEIt8
Capital Market Labs
18 Apr 15 05:22:31
$CVS vs. $KR vs. $RAD vs. $WBA Compared Across 9 Critical Measures http://t.co/fspzEO8o34 http://t.co/LMQjRiG1Qs
Capital Market Labs
18 Apr 15 04:15:42
$RAD vs. $SPTN vs. $PUSH vs. $UNFI Compared Across 9 Critical Measures http://t.co/dt9zJBCj8I http://t.co/uyCZVbcYAj
Capital Market Labs
18 Apr 15 03:58:27
$CVS vs. $COST vs. $KR vs. $RAD Compared Across 9 Critical Measures http://t.co/6oF7XeCHSP http://t.co/CAvSV4Hurt
Capital Market Labs
18 Apr 15 03:23:26
$SYY vs. $SVU vs. $RAD vs. $UNFI Compared Across 9 Critical Measures http://t.co/dGIEKNuKMX http://t.co/xHW607Q05M
Capital Market Labs
18 Apr 15 02:59:26
$SYY vs. $SVU vs. $RAD Compared Across 9 Critical Measures http://t.co/L4MwbuGt20 http://t.co/esBFd2LoRI
Capital Market Labs
17 Apr 15 22:34:36
$RAD vs. $DPLO vs. $UNFI vs. $SPTN Compared Across 9 Critical Measures http://t.co/zSZ9xAxPcQ http://t.co/3hr6pES6kw
Capital Market Labs
17 Apr 15 22:19:40
$RAD vs. $SPTN vs. $SVU Compared Across 9 Critical Measures Chart: http://t.co/paiRLskPjJ
Capital Market Labs
17 Apr 15 22:19:06
$PUSH vs. $SYY vs. $RAD vs. $WFM Compared Across 9 Critical Measures http://t.co/BQbilVEtcE http://t.co/f3gLOiZbPy
BreakingStocksNews
17 Apr 15 21:00:08
$RAD: Insider Selling: Rite Aid Director Joseph B. Anderson, Jr. Sells ...: http://t.co/WyfUQoISiZ
#
17 Apr 15 19:50:22
RT @AmericanBanking: Rite Aid Director Sells $1,237,500.00 in Stock $RAD http://t.co/25rj663YsH
WKRB News
17 Apr 15 19:35:23
Rite Aid Director Sells $1,237,500.00 in Stock $RAD http://t.co/FAiyfDmwW3
Media Sentiment
17 Apr 15 19:30:07
$RAD received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 420
US Banking News
17 Apr 15 19:28:13
Rite Aid Director Sells $1,237,500.00 in Stock $RAD http://t.co/25rj663YsH
Ticker Report
17 Apr 15 19:27:41
Rite Aid Director Sells $1,237,500.00 in Stock $RAD http://t.co/DB0yqMRXfb
leahanne
17 Apr 15 18:07:32
Volume Alert - RAD 8.00 Rite Aid Corp $RAD Hit a high today of 8.24 Closing the day 04/17/15 at 8.00 -0.21 -2. http://t.co/3tYU54bzU9
leahanne
17 Apr 15 18:07:11
$RAD Volume Alert - RAD Stock 8.00 Rite Aid Corp $RAD Hit a high today of 8.24 Closing the day 04/17/15 at 8.00 -0. http://t.co/rKNMXG6Ih1
IH NASDAQ OMX
17 Apr 15 16:03:41
$RAD Ask Size Click Here: http://t.co/ksoLbYLZdF Also See: $BURCA $RGTB $LSTS $MCRUF ~
Marco Di Dionisio
17 Apr 15 14:40:39
Longs, cost basis: $CRZO ($54.48) $GE ($26.91) $JNJ ($83.82) $KO ($37.29) $RAD ($8.26) $SWKS ($73.12) $UNH ($113.92) $V ($44.24)
Marco Di Dionisio
17 Apr 15 14:36:02
Closed the week with these longs $CRZO $GE $JNJ $KO $RAD $SWKS $UNH $V
gcoundou
17 Apr 15 14:22:33
RT @FutureMeDead: $RAD has completed an impulse wave down from the April 2 top of 9.07. Expecting an upward correction from nearby levels.
Edgar
17 Apr 15 14:15:12
Out of $RAD entirely as of today and got +20% #gain. I'll call that one an easy #homerun #stocks
Matthew Warmuth
17 Apr 15 14:08:39
RT @AWastler: Top stock lookups on http://t.co/dw39TKnsmw ysty: $AAPL, $AA, $TSLA, $BABA, $FB, $BAC, $RAD, $TWTR, $SPY, $GE, $USO, $UWTI, $…
gcoundou
17 Apr 15 14:07:30
@WallStJesus $RAD April $9 calls megabet officially goes up in smoke!
Fed Porn
17 Apr 15 13:00:54
Lol. I made $11 today off of $RAD.
mr. jucijuce
17 Apr 15 12:55:32
RT @JackDamn: Looking ahead to Monday: added $RAD to my S/L watch. The daily chart looks interesting here. No trade plan yet. http://t.co/P…
InsiderTradingWire
17 Apr 15 12:50:47
JOSEPH ANDERSON B JR Sells $644,490 Worth of $RAD Rite Aid Corporation Common Sto - #Form4 #InsiderTrading - http://t.co/31IqejU3UF
Jack Damn
17 Apr 15 12:50:16
Looking ahead to Monday: added $RAD to my S/L watch. The daily chart looks interesting here. No trade plan yet. http://t.co/Pu89qlrJmj
STOCKER
17 Apr 15 12:45:26
Hope u bought a little $RAD at the $7.95 level #bullish http://t.co/IAWwNlWp6j
Insider Alerts
17 Apr 15 12:44:50
NEW insider transaction on $RAD reported a moment ago: http://t.co/qyHnwDA1A2
NASDAQ
17 Apr 15 12:43:13
$RAD - Statement of Changes in Beneficial Ownership (4) http://t.co/NprptGVibQ
Stocks News&Markets
17 Apr 15 12:43:12
$RAD - Statement of Changes in Beneficial Ownership (4) http://t.co/PizMxCIKBw
StockNews
17 Apr 15 12:43:12
$RAD - Statement of Changes in Beneficial Ownership (4) http://t.co/8PMkHsQzsv
Insider Filings
17 Apr 15 12:41:51
$RAD: ANDERSON JOSEPH B JR sold a net $644,490 in RITE AID CORP. http://t.co/FpSFwkFlDw
Marco Di Dionisio
17 Apr 15 12:01:03
$RAD flirting heavily w/ my stop at $7.90. We'll see if it holds today. Even so, likely wouldn't survive any downside follow thru on Monday
A
17 Apr 15 12:00:50
RT @THESTOCKER: $RAD Should be bought here 7.95 go #long #bullish
Clayton Gilman
17 Apr 15 11:54:00
$RAD back in 7.94
BlockTradeAlert
17 Apr 15 11:50:35
BLOCK TRADE: $RAD 1,000,000 shares @ $7.94 [14:50:35]
REDLEAF
17 Apr 15 11:50:08
$RAD weak hands are making this look attractive as a buy.
STOCKER
17 Apr 15 11:41:43
$RAD Should be bought here 7.95 go #long #bullish
Fed Porn
17 Apr 15 10:56:44
Usually I don't buy on Fridays but YOLO. #FreeTrades $RAD http://t.co/o6WhphJAN7
Capital Market Labs
17 Apr 15 10:51:18
$RAD vs. $PUSH vs. $SVU Compared Across 9 Critical Measures Chart: http://t.co/EYK4wN6Rrf
Clayton Gilman
17 Apr 15 10:44:04
$RAD stopped out 8.00 -10
Candy Man
17 Apr 15 09:31:35
$AAPL $RAD $AMD $VLTC $GE $MCP Really love days like this. So much opportunity.
Wu Weed
17 Apr 15 08:44:10
@FedPorn long $RAD from $4.420 (#fourtwentyalgo)
				
				
By  +Follow June 20, 2013 9:27AM
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