Investors have taken a run to
today to pick up a few shares of the company's stock.
The chain saw shares jump 9% to $1.51 in morning trading, despite slightly missing Wall Street's same-store sales expectations.
Rite Aid posted a .6% rise in May same-store sales, receiving a lift from pharmacy sales. Analysts expected a .8% lift during the month.
The company said same-store sales of non-pharmacy, or front-end products like candy and makeup slid 1.5%, while sales of pharmacy items, which comprise about two-thirds of its revenue, rose 1.6%.
Earlier in the week, rival
, off from analysts' expectations of a 2.2% jump.
Shares of Walgreen lost 1% to $30.98, while
, which does not report monthly sales numbers, also declined 1% in morning trading to $30.31.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.