Rite Aid Pops on Same Store Numbers and 2 Other Hot Stocks to Watch
Rite Aid Corp. (NYSE:RAD): Current price $5.21
For the four weeks that ended September 28, same store sales at Rite Aid rose by 1.9 percent year-over-year. Front-end same store sales for the month decreased 0.5 by percent, but pharmacy same store sales, including a roughly 100 basis points negative impact from new generic introductions, grew 3.1 percent, while prescription count at comparable stores increased by 0.9 percent over the period in 2012. Total drugstore sales for the four-week period grew by 1.9 percent to $1.935 billion, versus $1.899 billion year-over-year. Prescription sales comprised 68.7 percent of drugstore sales and third party prescription sales were 97.1 percent of pharmacy sales. Shares are up by about 4.5 percent Thursday in heavy trading.