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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
Stock Rocket
26 Nov 14 17:27:35
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
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26 Nov 14 11:35:39
Our Penny Stock Pick On $STTK Gained 171% And Closed up Over 85%! Huge News: https://t.co/MMLz0V8NAH $RAD $SBGI $MEG
leahanne
26 Nov 14 10:57:03
Volume Alert - RAD 5.60 Rite Aid Corp $RAD Hit a high today of 5.62 Closing the day 10:30 at 5.60 +0.01 +0.18% http://t.co/L8HlYe1BHw
leahanne
26 Nov 14 10:56:41
$RAD Volume Alert - RAD Stock 5.60 Rite Aid Corp $RAD Hit a high today of 5.62 Closing the day 10:30 at 5.60 +0.01 http://t.co/TvNrZskPUd
John Turner
26 Nov 14 10:31:30
$RAD CVS, Rite Aid disable Apple Pay in drugstores http://t.co/jUCAYG3zIy
Stock Rocket
26 Nov 14 09:48:57
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
Stockaholics
26 Nov 14 09:12:18
Our Penny Stock Pick On $STTK Gained 171% And Closed up Over 85%! Huge News: https://t.co/MMLz0V8NAH $CWCO $RAD $HZNP
Clayton Gilman
26 Nov 14 09:06:05
$RAD ranging between 5.55 & 5.60=resistance for day. Great swing potential. Ascending Triangle say break up coming. http://t.co/UvxdPsQsjR
Penny Stock Secret
26 Nov 14 09:02:37
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMlijqL .. $RAD $SBGI $MEG
Clayton Gilman
26 Nov 14 08:47:33
$RAD back in @ 5.55, third time is a charm
Clayton Gilman
26 Nov 14 08:38:39
$RAD stopped out 5.55
Stockaholics
26 Nov 14 08:34:19
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26 Nov 14 08:16:27
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Justaddmuscle.com
26 Nov 14 07:58:59
What is the point of the non stop $RAD selling into a great wall of china bid support a few days before Black Friday sales event?
KING ALLIANCE
26 Nov 14 07:49:39
$RAD SHOULD PUSH HIGHER HERE POSSIBLE BREAKOUT OF BULL FLAG
Clayton Gilman
26 Nov 14 07:43:48
$RAD stopped out from yesterday 5.58 -2, back in 5.57
Joshua Payne
26 Nov 14 07:15:24
RT @conocelabolsaya: @IBDinvestors: The 5 best retailers for Black Friday markdowns http://t.co/GkGMQJzWGe $M $RAD $COST $AMZN $BBY http://…
Justaddmuscle.com
26 Nov 14 07:14:32
RT @SamStockBrown: $RAD Why Rite Aid Will Retest $9 http://t.co/p92j0PWkjj
Penny Stock Secret
26 Nov 14 07:14:04
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Justaddmuscle.com
26 Nov 14 07:13:17
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26 Nov 14 05:45:29
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Daytradeya
26 Nov 14 04:18:41
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#TeamBlackM
26 Nov 14 03:49:55
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Jeff Ki
26 Nov 14 03:49:19
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Stockaholics
25 Nov 14 21:49:43
Our Penny Stock Pick On $STTK Gained 171% And Closed up Over 85%! Huge News: https://t.co/MMLz0V8NAH $RAD $SBGI $MEG
Stockaholics
25 Nov 14 21:29:49
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Stock Rocket
25 Nov 14 21:24:51
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jatinam
25 Nov 14 21:21:32
RT @IBDinvestors: The 5 best retailers for Black Friday markdowns http://t.co/nG32CrHhpE $M $RAD $COST $AMZN $BBY http://t.co/RdvHSXF1yB
Stockaholics
25 Nov 14 20:37:40
Our Penny Stock Pick On $STTK Gained 171% And Closed up Over 85%! Huge News: https://t.co/MMLz0V8NAH $CWCO $RAD $HZNP
Trader News Daily
25 Nov 14 20:23:51
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25 Nov 14 20:00:52
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TheRealAlexCurry
25 Nov 14 19:20:22
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25 Nov 14 19:17:33
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25 Nov 14 19:05:07
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25 Nov 14 19:03:16
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25 Nov 14 19:02:07
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Sterling Holmes
25 Nov 14 19:00:51
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Investing Insight
25 Nov 14 19:00:47
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Investors.com
25 Nov 14 19:00:32
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Trader News Daily
25 Nov 14 16:43:09
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عيش حرية عدالة
25 Nov 14 14:23:14
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Stock Rocket
25 Nov 14 13:42:32
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
I Know First France
25 Nov 14 12:45:14
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Clayton Gilman
25 Nov 14 12:10:49
$RAD in 5.60 = support
Day Trade Alerts
25 Nov 14 10:54:19
RT @bangersnpip: $RAD updated chart..still sitting right at resistance http://t.co/plaDaMTpW1
Trade Under Ten
25 Nov 14 10:53:44
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KING ALLIANCE
25 Nov 14 10:52:03
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KING ALLIANCE
25 Nov 14 10:42:55
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Stock Rocket
25 Nov 14 10:40:37
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
				
				
By  +Follow June 20, 2013 9:27AM
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