Rite Aid reported that same-store sales grew 5.4% in November, above the 4.1% same-store sales growth analysts surveyed by Thomson Reuters expected. Total sales for November grew 5.1% from the year-ago month to $6.65 billion.
Pharmacy sales increased 7.1% in November, and prescription counts increased 4.2% in the month.
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Same-store sales increased 5.4% for the quarter that ended Nov. 29, with front-end same-store sales increasing 1.6% and pharmacy same-store sales increasing 7.2% in the quarter. Prescription counts increased 4.5% in the quarter.
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 growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins."