NEW YORK (TheStreet) -- Shares of Rite Aid Corp. (RAD) are down by 0.35% to $8.64 in mid-morning trading on Thursday, after the retail drug store company reported an increase in its May 2015 same-store-sales that fell short of what analysts were expecting for the month.
Same store sales grew by 2.1% in May 2015, over the same period last year. However, analysts polled by Thomson Reuters had forecast for a 3% rise in same store sales.
The rise in the company's sales was due to growth in its pharmacy segment. For quarter ended in May the company said total drugstore sales were up by 2.8% to $6.6 billion over the same period last year.
Analysts were anticipating pharmacy sales of $6.69 billion.
On Wednesday, Rite Aid announced that it will release its fiscal 2016 first quarter earnings results before the market open on Thursday, June 18.
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 notable return on equity, revenue growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and weak operating cash flow."