logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Rite Aid Posts Solid Earnings But Cannot Escape Sell-Off

By  +Follow June 20, 2013 9:27AM
Share:
Tickers Mentioned:

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.

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.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for RAD
Stockaholics
21 Oct 14 00:16:45
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $RAD $SBGI $MEG
Stockaholics
21 Oct 14 00:09:13
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $ALTO $USA $RAD
Stockaholics
20 Oct 14 21:15:25
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $CWCO $RAD $HZNP
Stockaholics
20 Oct 14 20:52:24
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $INO $INNO $RAD
Chess
20 Oct 14 17:33:12
"@RaginCajun: Monday Night Charts | http://t.co/0nvBl3VZQt $AAPL $TWTR $JCP $RAD
Stockaholics
20 Oct 14 17:33:08
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $CWCO $RAD $HZNP
RC
20 Oct 14 17:22:33
Monday Night Charts | http://t.co/L8kXutZVaE $AAPL $TWTR $JCP $RAD $FCX $SHLD $AVP $MOS $GPRO $MBLY $GMCR $CERS $SALE $GWPH $GDOT
Stockaholics
20 Oct 14 17:11:59
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $INO $INNO $RAD
Stockaholics
20 Oct 14 13:50:56
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/lWd4jUXeCy $RAD $SBGI $MEG
Stockaholics
20 Oct 14 13:39:37
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/lWd4jUXeCy $ALTO $USA $RAD
Trader News Daily
20 Oct 14 13:21:54
Get reviews of top trading websites at http://t.co/sJnBwtOUTE. Sign-up bonuses available. Related: $RF $SIMH $OIBR $MONIF $HEMP $JCP $RAD
Stockaholics
20 Oct 14 13:07:49
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $CWCO $RAD $HZNP
Stockaholics
20 Oct 14 12:41:51
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/lWd4jUXeCy $INO $INNO $RAD
Full Disclosure
20 Oct 14 11:00:28
Fascinating: CVS is using its anti-tobacco stance and pharma-benefits clout to squeeze rivals http://t.co/b0BSLbzkR0 $CVS $WAG $RAD $MO @WSJ
ClosingBell
20 Oct 14 10:37:01
Stocks tagged #MarketExpansion - $UA $AAPL $DIS $GOGO $GSAT $HLF $RAD $TSLA $UTX http://t.co/L0YbAYZkXZ
Adam Sullivan
20 Oct 14 10:11:30
Published $RAD estimate on Estimize: -0 EPS and +43.46M Revs compared to Wall Street's consensus. http://t.co/BdR5y4IfJm
Stockaholics
20 Oct 14 09:33:15
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $RAD $SBGI $MEG
Stockaholics
20 Oct 14 09:23:15
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $ALTO $USA $RAD
BlockTradeAlert
20 Oct 14 09:17:53
BLOCK TRADE (Microcap): $RAD 250,000 shares @ $4.71 [12:17:51]
Stockaholics
20 Oct 14 08:55:30
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $CWCO $RAD $HZNP
Stockaholics
20 Oct 14 08:35:10
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $INO $INNO $RAD
Fed Porn
20 Oct 14 08:29:35
Boom! $CVS Health to charge extra for prescriptions from tobacco-selling pharmacies $CVS $WAG $RAD http://t.co/6gnsSr9mSR
Trader News Daily
20 Oct 14 08:24:47
Check out http://t.co/sJnBwtOUTE for stock trading website reviews. Related: $FNMA $RAD $AA $F $APT $ODP $ABBV $VALE $AAL $T $HTZ $AKS
MarketCurrents
20 Oct 14 07:47:45
CVS Health to charge extra for prescriptions from tobacco-selling pharmacies http://t.co/P4KY0uOZcL $CVS $WAG $RAD
Stoxline Investing
20 Oct 14 07:46:45
$RAD Looks like good entry point here. Target: 6.80 http://t.co/fteIjZbswf
Stockaholics
20 Oct 14 00:27:13
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $CWCO $RAD $HZNP
Stockaholics
20 Oct 14 00:09:02
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $INO $INNO $RAD
Stockaholics
19 Oct 14 20:43:50
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $RAD $SBGI $MEG
Stockaholics
19 Oct 14 20:34:32
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $ALTO $USA $RAD
Stockaholics
19 Oct 14 20:06:59
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $CWCO $RAD $HZNP
Stockaholics
19 Oct 14 19:47:28
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Stockaholics
19 Oct 14 17:23:59
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $CWCO $RAD $HZNP
Stockaholics
19 Oct 14 17:05:49
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Stockaholics
19 Oct 14 09:22:02
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $RAD $SBGI $MEG
Jillian
18 Oct 14 17:27:08
$FNMA $PCRFY $RAD all undervalued I'm long. Subpenny pick is $DKAM. Working FT but still squeezing time in for my plays! I miss daytrading
ralph henry
18 Oct 14 17:18:10
Rite Aid initiated by Cowen and Company at market perform. $6.00 PT. http://t.co/HdQacIx7qy $RAD #RAD via @RatingsNetwork
Emmanuel Contreras
18 Oct 14 15:08:28
RT @SeekingAlpha: Walgreen Will Continue To Reward Shareholders As Top Line Looks Secure http://t.co/Qn7ZK86QvD $ABC $RAD $WAG
Stockaholics
18 Oct 14 14:51:31
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Stockaholics
18 Oct 14 13:17:51
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $RAD $SBGI $MEG
Stockaholics
18 Oct 14 11:55:22
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Stockaholics
18 Oct 14 04:05:06
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $CWCO $RAD $HZNP
Stockaholics
18 Oct 14 03:44:35
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Daily Contracts
17 Oct 14 14:28:01
Real-Time feed of company contracts, original agreements and executive updates from Rite Aid $RAD http://t.co/SJPsVUIYRn
Stockaholics
17 Oct 14 13:58:31
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $CWCO $RAD $HZNP
gordon gekko is god
17 Oct 14 13:39:54
Walgreen Will Continue To Reward Shareholders As Top Line Looks Secure http://t.co/VSYpokks9N $WAG, $ABC, $RAD
Stockaholics
17 Oct 14 13:39:38
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $INO $INNO $RAD
Seeking Alpha
17 Oct 14 13:01:31
Walgreen Will Continue To Reward Shareholders As Top Line Looks Secure http://t.co/Qn7ZK86QvD $ABC $RAD $WAG
Lucretia
17 Oct 14 11:30:51
$RAD Why Rite Aid Dropped Yesterday http://t.co/Mi7eAqsRUw
Stockaholics
17 Oct 14 10:32:01
Platinum Penny Stock Picks Gained 125% last week! New Pick Coming Today! Check It Out: http://t.co/7gQJ2ZCjuq $RAD $SBGI $MEG
Stockaholics
17 Oct 14 10:21:56
Platinum Penny Stock Picks Gained 125% last week! New Pick Coming Today! Check It Out: http://t.co/7gQJ2ZCjuq $ALTO $USA $RAD
				
				
By  +Follow June 20, 2013 9:27AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.