Can Rite Aid Continue Its Explosive Run?
T = Trends for a Stock’s Movement
Rite Aid is a retail drugstore chain in the United States that sells prescription drugs and a range of other general merchandise. Its offerings include prescription drugs, over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise, and other everyday convenience products, as well as photo processing. General merchandise suppliers make it simpler for the average consumers who wants a quick and efficient shopping experience when looking for convenience items.
The end of the serious influence of the Jean Coutu Group on Rite Aid is at hand as the drug store chain announced that a recent share sale will take Francois J. Coutu off the board, effective October 31. The links go back to 2007 and the recent share divestiture from that group effectively placed the holders under a 5 percent ownership threshold. Recently, Rite Aid posted earnings and revenues figures that beat Wall Street’s expectations.