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
15 Sep 14 02:04:44
Major New SECRET Penny Stock Pick, Being Released Today! Check this out: http://t.co/VtX7ZDqQih $CWCO $RAD $HZNP
Stockaholics
15 Sep 14 01:48:42
Major New SECRET Penny Stock Pick, Being Released Today! Check this out: http://t.co/VtX7ZDqQih $INO $INNO $RAD
Chasing Stars
15 Sep 14 01:46:16
$AAPL Bid Click Here: http://t.co/IWomqDUIxT Also See: $RAD $EPI $APHD $USLV ~
Stockaholics
15 Sep 14 01:24:38
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $RAD $SBGI $MEG
Mohamud
14 Sep 14 23:40:48
$RAD will report this week, which side do u believe? Join us http://t.co/ACFV4r4Hej
Investors Hangout
14 Sep 14 22:58:53
$MTVX Dividend Click Here: http://t.co/01ZQOIV5Pk Also See: $RAD $GOOGL $CENX $IYR ~
Stock Forums
14 Sep 14 20:07:42
$DRIO Dividend Click Here: http://t.co/KokxBXwU1u Also See: $RAD $XLY $TASR $JNK ~
Kevbeau68
14 Sep 14 18:18:29
RT @Briefingcom: Corporate #earnings conference calls, webcasts http://t.co/7HqwdvZMCw $ALOG $ADBE $PIR $RAD $ORCL $RHT $BBBY $JBL $MU $WAG
Briefing.com
14 Sep 14 18:18:07
Corporate #earnings conference calls, webcasts http://t.co/7HqwdvZMCw $ALOG $ADBE $PIR $RAD $ORCL $RHT $BBBY $JBL $MU $WAG
ExileonBaySt
14 Sep 14 14:11:57
Earnings: Mon $ALOG, Tues $ADBE, $FDS, Wed $GS, $FDX, $SCHL, $CBRL, $CTAS Thurs $ORCL, $CAG, $RHT, $RAD, $TIBX.
Thomas John Aikman
14 Sep 14 06:29:59
RT @CBOE: Next Week in Weeklys – 9/15/2014 http://t.co/4Gj7khsUt5 $FDX $RAD $NQ $ORCL - reporting next week
CBOE
14 Sep 14 06:05:57
Next Week in Weeklys 9/15/2014 $NQ $RAD #FDX #ORCL http://t.co/1RQlRCpYA3
pennypicker
14 Sep 14 05:59:43
RT @CBOE: Next Week in Weeklys – 9/15/2014 http://t.co/4Gj7khsUt5 $FDX $RAD $NQ $ORCL - reporting next week
Auto Binary option
14 Sep 14 05:57:47
RT @CBOE: Next Week in Weeklys – 9/15/2014 http://t.co/4Gj7khsUt5 $FDX $RAD $NQ $ORCL - reporting next week
John W. Green JW
14 Sep 14 05:57:21
RT @CBOE: Next Week in Weeklys – 9/15/2014 http://t.co/4Gj7khsUt5 $FDX $RAD $NQ $ORCL - reporting next week
CBOE
14 Sep 14 05:55:45
Next Week in Weeklys – 9/15/2014 http://t.co/4Gj7khsUt5 $FDX $RAD $NQ $ORCL - reporting next week
Stockaholics
14 Sep 14 01:29:33
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $CWCO $RAD $HZNP
Stockaholics
14 Sep 14 01:13:25
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $INO $INNO $RAD
Langan Stocks
13 Sep 14 19:07:05
Stock Contest!! Pick $JNJ and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/xTyfUBwkWa $ARTX $RAD $KGC $WMT ~
Stockaholics
13 Sep 14 18:48:50
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/J5V5Ao5Vvy $CWCO $RAD $HZNP
Stockaholics
13 Sep 14 18:32:55
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $INO $INNO $RAD
IH News Desk
13 Sep 14 18:15:59
Stock Contest!! Pick $HOT and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/NaFgc06gVb $HD $RAD $AA $TMV ~
pennypicker
13 Sep 14 17:52:18
@RB2412 also $RAD, $RHT, $CBRL, $GIS, and $CAG have earnings too so watch for those.i think $CBRL will do good. $RAD I may buy puts not sure
Jesus Cryptos
13 Sep 14 16:23:11
RT @Bidnessetc: Walmart is planning to rebrand its Express stores http://t.co/v1rJymC0UM $WMT $RAD $WAG $DLTR $FDO
Bidness Etc
13 Sep 14 16:15:02
Walmart is planning to rebrand its Express stores http://t.co/v1rJymC0UM $WMT $RAD $WAG $DLTR $FDO
IH NASDAQ OMX
13 Sep 14 16:01:28
Stock Contest!! Pick $GE and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/QX9FKwzvub $WFC $JPM $RAD $MLHC ~
TV_Trading Ideas
13 Sep 14 15:38:31
RAD approaching heavy resistance areas $RAD http://t.co/aIZX5WL4XB
IH NASDAQ OMX
13 Sep 14 15:36:30
Stock Contest!! Pick $FXI and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/ZgfdhXaW4A $RAD $EWJ $DATA $TBT ~
IH News Desk
13 Sep 14 12:17:13
Stock Contest!! Pick $DATA and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/Uhse38vLfD $RAD $SYN $BEAV $JNJ ~
nasdaqfan
13 Sep 14 12:02:32
Stock Contest!! Pick $CSTE and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/QtDnWoEnNW $VZ $LOCO $MMP/UN.TO $RAD ~
Langan Stocks
13 Sep 14 11:27:30
Stock Contest!! Pick $CSCO and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/uPQLnBvMkH $EBAY $RAD $RIGH $FXI ~
leahanne
13 Sep 14 10:27:55
$MNKD Mannkind Corp (MNKD) 6.68 -0.13 (-1.91%) $ARWR $F $RAD http://t.co/lvnqnptGUr
Langan Stocks
13 Sep 14 10:23:16
Stock Contest!! Pick $BRK/B and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/L4YpbtFqbi $PG $RAD $KGC $LGF ~
Investors Hangout
13 Sep 14 10:19:04
danrocks: $SMN keeping this on watch $IBM $RAD $CSCO $WMIH http://t.co/byJcMwjyvx
PresidiumCapital
13 Sep 14 09:57:08
Notable #Earnings next week: $ADBE $FDS $FDX $LEN $GIS $PIR $CBRL $UNFI $ORCL $TIBX $CAG $RAD $IHS
danrocks
13 Sep 14 09:50:12
$SMN keeping this on watch $IBM $RAD $CSCO $WMIH $GILD http://t.co/6NcZl0ObID
jim50
13 Sep 14 09:42:29
$RAD Stock Date=Sept-12-2014 Open=6.55 High=6.62 Low=6.5 Close=6.55 Volume=17048700 http://t.co/SeP58BwYZK
Kym L
13 Sep 14 09:35:20
Earnings Tuesday $ADBE $APOG Wednesday $CBRL $FDX $GIS $LEN $PIR Thurs $CAG $ORCL $RAD $RHT $TIBX
nasdaqfan
13 Sep 14 08:44:33
Stock Contest!! Pick $AMBA and WIN a FREE Tablet!! Enter NOW! Click here for details: http://t.co/WmfMzgzCby $ARTX $RAD $GE $MDSO ~
lookn4wins
13 Sep 14 07:33:35
$VNQ TA $VNQ Most recent stock chart and technical analysis. $FXE $GLD $^SIZ14 $XLU $GOOGL $RAD http://stockch http://t.co/O0DHhPabDc
FonsieTrader
13 Sep 14 07:26:44
Bullish ADX Crossovers 2/2 $NPBC $OHRP $ONB $PGTI $PHH $RAD $SBH $SHEN $SWFT $UPS $USB $WERN $WIBC $YUME $ZIOP $ZU http://t.co/GR4xAwtlXV
lookn4wins
13 Sep 14 06:57:02
$GRCU Current Price $GRCU Most recent stock chart and technical analysis. $RAD $ACHN $ABX $OTIV $PCLN $NUGT ht http://t.co/H3Cf8JBUpf
Investors Hangout
13 Sep 14 06:44:08
danrocks: $GPRO Buzz $S $TAN $FBT $RAD $DDD http://t.co/xkBRFX9jOi
Investors Hangout
13 Sep 14 06:44:07
danrocks: $GPRO Buzz $S $TAN $FBT $RAD $DDD http://t.co/7ro1dDGcKa
Stockaholics
13 Sep 14 06:43:53
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $INO $INNO $RAD
iHangout
13 Sep 14 06:43:08
http://t.co/l4qmOlz0qf lookn4wins: HDOG HUB: $RAD TA $RAD Most recent stock chart and http://t.co/RAA4eUyyiw
iHangout
13 Sep 14 06:37:09
http://t.co/Vv1sYDyeQn lookn4wins: HDOG HUB: $RAD TA $RAD Most recent stock chart and http://t.co/Aq2f4QalJj
iHangout
13 Sep 14 06:37:06
http://t.co/Vv1sYDyeQn danrocks: Xtremepicks Alerts: $GPRO Buzz $S $TAN $FBT $RAD $DDD http://t.co/1DOiQE9rod
Investors Hangout
13 Sep 14 06:35:07
lookn4wins: $RAD TA $RAD Most recent stock chart and http://t.co/c9eqi07G97
Investors Hangout
13 Sep 14 06:35:06
lookn4wins: $RAD TA $RAD Most recent stock chart and http://t.co/rDhLZRNhWO
				
				
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.