The retailer said it will add tablets, notebooks, smart TV devices, and electronics accessories to stores for the shopping season. Rite Aid cites a report from The National Retail Federation that says the average family will spend $669 during the back-to-school shopping season, with much of that going towards electronics and school supplies.
"Back-to-school is an important time of year for students and parents alike, and that's why Rite Aid is committed to offering a wide selection of school supplies," Rite Aid executive vice president of merchandising Tony Montini said in a press release.
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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."