Rite Aid Shares Fall on Sales Drop

Rite Aid(RAD Quote) still doesn't seem to be able to keep up with its competitors.

The drugstore posted a .6% drop in June same-store sales, while Walgreen(WAG Quote) saw a 3.4% jump during the month.

As a result, shares of Rite Aid tanked 9% to $1.40 during morning trading -- a disappointing result, only a day after the drugstore finally regained compliance with the New York Stock Exchange's share price listing requirement.

While Walgreen was able to offset softness in seasonal items and other discretionary purchases through prescription sales, Rite Aid wasn't so lucky. ...