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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.

Results for RAD
Mattias Hertz
16 Apr 14 00:06:12
$RAD Rite Aid Upped to Strong Buy - Analyst Blog http://t.co/YDwEH2G5dE
Mattias Hertz
16 Apr 14 00:06:11
$RAD Rite Aid Upped to Strong Buy http://t.co/PglW7rPSli
Mattias Hertz
16 Apr 14 00:00:18
$RAD Earnings Roundup: Rite Aid Impresses http://t.co/ThfUGXE3te
Stock Forums
15 Apr 14 22:30:21
Share your opinions about $RAD with 12,000+ active traders today! Click Here: http://t.co/83GynvWKIJ Trending $VGPR $SIL $SIL $NBRI
Mattias Hertz
15 Apr 14 22:25:04
$RAD Earnings Roundup: Rite Aid Impresses http://t.co/70E7hf6q2m
US Banking News
15 Apr 14 21:54:30
Rite Aid Rating Increased to Buy at Zacks $RAD http://t.co/3AgZCl0rQ4
Money Major
15 Apr 14 20:24:15
$RAD Earnings Roundup: Rite Aid http://t.co/SNOeyFsFDQ
Informer
15 Apr 14 19:39:35
$RAD: Rite Aid Was the Biggest Earnings Winner Last Week http://t.co/M3M5AMKy0L
LoveStockNews
15 Apr 14 19:27:16
$RAD - Rite Aid Was the Biggest Earnings Winner Last Week -> http://t.co/ykVutVLM7n #stock #stocks #stockaction
OTPicks.com
15 Apr 14 18:29:32
http://t.co/QzFp1WC0ss jim50: $RAD Low DateApr 14 2014 Open7.26 High7.33 Low: jim50 http://t.co/cwAIPUPNFd http://t.co/QzFp1WC0ss
O T P i c k s . com
15 Apr 14 18:29:28
http://t.co/awZxDQ0zpX jim50: $RAD Low DateApr 14 2014 Open7.26 High7.33 Low: jim50 http://t.co/lSmk1msrZk http://t.co/awZxDQ0zpX
Stock Forums
15 Apr 14 17:23:14
Share your opinions about $ERBB with 12,000+ active traders today! Click Here: http://t.co/Ziz0xgJuil Trending $PHOT $RAD $SMN $MNKD
StockNewsNet
15 Apr 14 16:45:28
$RAD - Rite Aid Upped to Strong Buy -> http://t.co/0UHlkpI5su #stock #stocks #stockaction
Informer
15 Apr 14 16:45:16
$RAD: Earnings Roundup: Rite Aid Impresses http://t.co/hzZNj3yLfQ
Stock Signaling
15 Apr 14 16:31:11
Top Stocks (By Trading Liquidity): $ZU $IPCI $QIWI $OPTT $SSYS $RAD $GDP $CSIQ $BTU $WBMD $MDR $ICPT $HLF $CONN $TRLA http://t.co/3gvJLENZtD
LoveStockNews
15 Apr 14 16:27:32
$RAD - Earnings Roundup: Rite Aid Impresses -> http://t.co/Rvjm5zMiZF #stock #stocks #stockaction
Ernst Grosz
15 Apr 14 16:00:34
$RAD: Upgraded Research Report on Gap http://t.co/lz0nbybtNE
GavinGreenberg
15 Apr 14 15:46:06
$RAD: Upgraded Research Report on Gap http://t.co/NXBUFzHA56
StockNewsNet
15 Apr 14 15:30:48
$RAD - Upgraded Research Report on Gap -> http://t.co/wK1Z8fhucH #stock #stocks #stockaction
Mattias Hertz
15 Apr 14 15:13:05
$RAD Rite Aid Upped to Strong Buy http://t.co/hVkcHLEWPK
Vince Rudolph
15 Apr 14 14:54:04
Go $RAD, Go $RAD, $RAD, Go Go Go!!!! #riteaid http://t.co/bLH3Fws3rU
Briefing.com
15 Apr 14 14:33:12
April corporate #earnings conference calls/webcasts http://t.co/bcMAaa3Vgy $BBBY $IGTE $AA $JPM $FAST $INTC $YHOO $RAD $PIR
Mattias Hertz
15 Apr 14 13:57:07
$RAD Rite Aid Upped to Strong Buy http://t.co/PglW7rPSli
rudyriosjr
15 Apr 14 12:59:39
Killed it today! $RAD, $FXEN, $WAVX $7550. Looking for another great day tomorrow!
StockNews
15 Apr 14 12:54:26
$RAD - Explosive Stocks Under $10 - Screen of the Week http://t.co/TKQNGT9mSk
VisualStock Resource
15 Apr 14 12:54:17
$RAD - Explosive Stocks Under $10 - Screen of the Week http://t.co/x2XK5mi9gl
US_proptrader
15 Apr 14 12:52:54
$DANG $EXAS $GRPN $ICPT $INCY $NLNK $OPK $PLUG $RAD autocharts @ http://t.co/kn4mViMgNq
Mattias Hertz
15 Apr 14 12:28:05
$RAD Rite Aid Was the Biggest Earnings Winner Last Week http://t.co/fgCx5YvSRL
Livevol Community
15 Apr 14 11:31:02
Block Trade: 2:15 $RAD Apr19 6 C (AMEX) 0.95 19000x Today's Full Report: http://t.co/oTYlqDdnsA
OptionsFlux
15 Apr 14 11:30:48
$RAD 19000 Contracts with expiration at Abr.18, 2014 CALL 6,0 at 0,95$ (ASK) - trade details http://t.co/lspPSk37mK
Livevol Community
15 Apr 14 11:29:02
Block Trade: 2:13 $RAD Apr19 6 C (AMEX) 0.90 19000x Today's Full Report: http://t.co/oTYlqDdnsA
Mattias Hertz
15 Apr 14 11:22:39
$RAD [$$] Rite Aid Shares Could Rise 15%-20% a Year http://t.co/zmLoHNEwdp
docking
15 Apr 14 11:17:12
RT @BlockTradeAlert: BLOCK TRADE: $RAD 1,944,800 shares @ $6.92 [14:16:37]
BlockTradeAlert
15 Apr 14 11:16:39
BLOCK TRADE: $RAD 1,944,800 shares @ $6.92 [14:16:37]
Lutz Braune
15 Apr 14 11:10:05
$RAD: [$$] Rite Aid Shares Could Rise 15%-20% a Year http://t.co/tEwM2SUQMB
Fred Elkins
15 Apr 14 11:09:06
Mid Day Options Market Commentary for April 14, 2014 http://t.co/jIioaXp7Kp $JNJ $AMAT $MSI $EWZ $SPY $SPX $JASO $RAD $KO $RAD #OPTIONS
Finance Banter
15 Apr 14 11:09:06
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Mattias Hertz
15 Apr 14 11:00:11
$RAD Rite Aid Was the Biggest Earnings Winner Last Week http://t.co/8FVw3zc6HG
nypd whistleblower
15 Apr 14 10:59:35
RT @StockRocket1: $IDOI smoking hot today! $MINE $ERBB $SPLI $FRTD $SIRI $FRTD $FITX $TTDZ $FROZ $SKTO $RAD $ZNGA $EAPH $WAVX $HEMP $PLUG …
Stock Rocket
15 Apr 14 10:56:53
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WKRB News
15 Apr 14 10:56:02
Rite Aid’s Outperform Rating Reaffirmed at Credit Suisse $RAD http://t.co/V1k3jd0cwM
Mattias Hertz
15 Apr 14 10:43:05
$RAD NYSE stocks posting largest percentage increases http://t.co/uG8zQOBUmY
MarketNews
15 Apr 14 10:40:22
$RAD - [$$] Rite Aid Shares Could Rise 15%-20% a Year -> http://t.co/eG9bIRM3Zv #stock #stocks #stockaction
Fred Elkins
15 Apr 14 10:34:17
Mid Day Options Market Commentary for April 14, 2014 http://t.co/jIioaXp7Kp $JNJ $AMAT $MSI $EWZ $SPY $SPX $JASO $RAD $KO $RAD #OPTIONS
Finance Banter
15 Apr 14 10:34:17
Mid Day Options Market Commentary for April 14, 2014 http://t.co/XsX9Kptoxb $JNJ $AMAT $MSI $EWZ $SPY $SPX $JASO $RAD $KO $RAD #OPTIONS
Syd Weedon
15 Apr 14 10:00:08
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CBOE
15 Apr 14 09:55:16
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Zolmax News
15 Apr 14 09:50:19
Rite Aid Price Target Increased to $7.50 by Analysts at Jefferies Group $RAD http://t.co/ZbDOGBzCLO
Kody Holt
15 Apr 14 09:35:49
@jimcramer what pps is a good place to buy $RAD? great spot on friday about it on @MadMoneyOnCNBC
leahanne
15 Apr 14 09:25:31
$CHIQ G-X China Consumer ETF (CHIQ) 14.37 -0.44 (-2.97%) $PGJ $BP $RAD http://t.co/n2m53jPGVE
				
				
By  +Follow June 20, 2013 9:27AM
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