Shares of Rite Aid Soar After Trumping Analysts' 2015 Forecasts

Rite Aid said it expects its pharmacy sourcing deal with McKesson as well as new and higher-priced generic drugs to drive sales in 2015.

Author:: Brittany Umar
Publish date:: Apr 10, 2014 10:41 AM EDT

Shares of Rite Aid are climbing on Thursday after the drugstore chain reported higher-than-expected profit for the fourth quarter and issued a 2015 earnings forecast above analyst estimates. Looking forward, Rite Aid forecast full-year 2015 sales of $26 billion to $26.5 billion, beating analyst forecasts of revenue of about $25.7 billion. The company said it expects its pharmacy sourcing deal with McKesson as well as new and higher-priced generic drugs to drive sales in 2015.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.