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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.

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
Stockaholics
31 Oct 14 11:30:31
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $INO $INNO $RAD
HotKeyTrading
31 Oct 14 11:00:04
Unusual Options Activity: Calls: $PCLN $TASR $MPC $PPL $VRX $ACAD $RAD $SPWR $JDSU $INVN $MBI $PHM $KMP $XOMA $PAYX http://t.co/Vv2VEn80mr
Charlie Weeks
31 Oct 14 10:36:15
Technical indicator (Stochastic Oscillator) signaled a Sell for $RAD at $5.21 #stockmarket - http://t.co/cEIxFfZSJM
Spike
31 Oct 14 10:05:32
$rad, $s remain in my core
Irma Doucet
31 Oct 14 09:00:50
$RAD CVS, Rite Aid disable Apple Pay in drugstores http://t.co/7Gvus4cSdI
Herma Hudek
31 Oct 14 09:00:26
$RAD merger talk http://t.co/fyXsCrkb5w
Daily Contracts
31 Oct 14 08:18:01
Real-Time feed of company contracts, original agreements and executive updates from Rite Aid $RAD http://t.co/SJPsVUIYRn
invest correctly
31 Oct 14 08:02:02
Does Current C even stand a chance against Apple Pay? $AAPL $RAD $CVS http://t.co/EALrTe6bQL
DailyStockPicks
31 Oct 14 07:47:38
#Ebola revenues for $LAKE announced. $SMED has 4 ways Ebola positively impacts their bottom line: http://t.co/qXqzthBMEE $RAD $EMC $NLSN
Chuck Nubern
31 Oct 14 07:30:25
Took a short spot on $RAD & $GLUU , Will hold until solid reversal noted.
US_proptrader
31 Oct 14 07:17:31
$EGO $NBL $NFX $OI $PVA $RAD $SAND $SDRL $SLW autocharts @ http://t.co/hj7PGeTQk3
fritz ahole
31 Oct 14 07:01:12
$RAD Classic case of stock manipulation
HotKeyTrading
31 Oct 14 07:00:04
Gap Ups: $DHX $SERV $CACI $CALX $INCY $ALL $RAD $CAVM $FORM $CTRX $FLTX $MBT $CBSO $LOPE $BMY http://t.co/XQITF0lRKD #analytics #finance
Steve Brown
31 Oct 14 06:36:53
PORTFOLIO is all GREEN. SBRA gaining +3.5% at OPEN along with $RAD and $INTC +3%. $FNMA +5%. $AAL +3% now. RU trading this MARKET?
Penny Stock Secret
31 Oct 14 06:35:13
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $RAD $SBGI $MEG
Consestimate
31 Oct 14 06:31:00
Apple Watch has the Swiss reassessing their future. $AAPL, $CVS, $RAD. http://t.co/3Cj6vCcy0j http://t.co/hcFqzmHiat
fritz ahole
31 Oct 14 06:09:45
http://t.co/HOsA2koxjz http://t.co/Hx0yWNEk2j $RAD Yesterday - Would that be considered a classic case of stock manipulation
SpideyTrader
31 Oct 14 05:58:43
Watching Closely: $SPY, $QQQ,$XLE,$AA, $RAD, $PLUG, $RFMD, $BABA, $DUST, $SPPI, $ACAD, $APT
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31 Oct 14 05:51:59
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $ALTO $USA $RAD
Stockaholics
31 Oct 14 05:50:46
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/gDCrqEFOy6 $RAD $SBGI $MEG
fritz ahole
31 Oct 14 05:43:47
$RAD Rumor on street of manipulation investigation under way
Stockaholics
31 Oct 14 05:33:03
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/gDCrqEFOy6 $ALTO $USA $RAD
Lucretia
31 Oct 14 05:31:38
$RAD Company News: Facebook, Twitter, Fiat, AT&T, Rite Aid, CVS, Apple, Regal ... http://t.co/utF0fFRLJ4
Penny Stock Secret
31 Oct 14 04:52:24
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $INO $INNO $RAD
TickerChirp
31 Oct 14 04:29:07
Prevalent Tweets Relevant to $RAD (Rite Aid Corp symbol RAD) on 10/31/2014 http://t.co/eg0FaDQ9Dr
Stockaholics
31 Oct 14 04:06:42
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/gDCrqEFOy6 $INO $INNO $RAD
eternauta
31 Oct 14 04:01:33
RT @TheAroraReport: UPDATE ON RITE AID $RAD http://t.co/g4cCFJFUuo
Penny Stock Secret
31 Oct 14 03:27:35
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $CWCO $RAD $HZNP
Stockaholics
31 Oct 14 01:47:59
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $RAD $SBGI $MEG
Stockaholics
31 Oct 14 01:28:01
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $ALTO $USA $RAD
Stockaholics
31 Oct 14 00:36:02
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $CWCO $RAD $HZNP
DailyStockPicks
30 Oct 14 23:28:51
Partner Jet $PJT.V is up 183% this week after Q3 release with more gains coming. Find out why: http://t.co/MEpEjkCm4H $RAD $EMC $NLSN
HotKeyTrading
30 Oct 14 23:00:05
Unusual Options Activity: Calls: $PPL $VRX $ACAD $RAD $SPWR $JDSU $INVN $MBI $PHM $KMP $XOMA $PAYX $AGNC $FEYE $SRPT http://t.co/XQITF0lRKD
Stockaholics
30 Oct 14 22:08:53
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $INO $INNO $RAD
Stockaholics
30 Oct 14 20:16:59
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $RAD $SBGI $MEG
HotKeyTrading
30 Oct 14 19:00:07
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DailyStockPicks
30 Oct 14 18:24:24
Partner Jet $PJT.V is up 183% this week after Q3 release with much more room to increase. Find out why: http://t.co/MEpEjkCm4H $RAD $OREX
Stockaholics
30 Oct 14 17:30:46
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $CWCO $RAD $HZNP
Stockaholics
30 Oct 14 16:58:29
Our Penny Stock Newsletter Alert On MGON Closed up 112.5% Today! Major News: http://t.co/dvxYQnSJab $INO $INNO $RAD
Duncan Sinfield
30 Oct 14 14:21:50
@jimcramer remodeled $RAD store -- I now see why remodeled store sales are UP! http://t.co/eVBhupIVfM
AAPL Stock Alerts
30 Oct 14 13:00:01
Titans Clash: MCX Vs. Apple Pay http://t.co/o0HjVwAJpT $CVS $GOOG $RAD $GOOGL $AAPL
4-traders.com
30 Oct 14 12:25:02
Rite Aid : Police identify Skowhegan man accused of robbing Rite Aid, stealing drugs http://t.co/je6Tb1Xgwp $RAD
Mexican Trades
30 Oct 14 11:48:39
$RAD av price 5.2466666666666666666667
Greg David
30 Oct 14 11:12:00
$ELED breaking out today. Also watching $ERBB $HEMP $FNMA $GLUU $GRPN $RAD $VPOR $IAG $SIRI $CDTI $S $ATML
HotKeyTrading
30 Oct 14 11:00:05
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Stockaholics
30 Oct 14 10:15:11
VIICQ Closed up 75% Yesterday! Special Update: http://t.co/8A33lxh1RR $RAD $SBGI $MEG
Investors Hangout
30 Oct 14 10:11:10
clayton: $RAD 5.28 http://t.co/Sn6NAQbLpy
Investors Hangout
30 Oct 14 10:11:08
clayton: $RAD 5.28 http://t.co/pEcvXDuVIo
Nigam Arora
30 Oct 14 10:01:15
UPDATE ON RITE AID $RAD http://t.co/g4cCFJFUuo
Mexican Trades
30 Oct 14 09:57:24
RT @BlockTradeAlert: BLOCK TRADE: $RAD 300,000 shares @ $5.25 [12:57:05]
				
				
By  +Follow June 20, 2013 9:27AM
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