The company announced a 3.9% increase in June with a 5.4% rise in same-store sales in its pharmacy section. The increase included a -1.69% effect from new generic-drug introductions. The company also noted prescription sales made up 68.4% of drugstore sales.
Rite Aid also said total drugstore sales rose 3.5% to $2 billion in June. Same-store sales climbed 0.9% in the front end of the store last month.
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The stock was up 2.05% to $7.72 at 10:02 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, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: