The company reported front-end comparable-store sales increased 4.7% with 4.6% of that increase attributable to a change in the date of Easter, which fell on April 20 in 2014 and March 31 in 2013.
Pharmacy comparable-store sales increased 5.2%, while prescription count at comparable stores rose 2.3%. Total drugstore sales increased 4.9% to $1.995 billion from $1.902 billion.
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The stock was up 6.03% to $7.74 at 10:07 a.m.
Separately, TheStreet Ratings team rates RITE AID CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate RITE AID CORP (RAD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: