% | $
Quotes you view appear here for quick access.

Rite Aid Corporation Message Board

  • scotty410 scotty410 May 29, 2012 11:57 AM Flag

    $1.55 New Target

    Consistently Improving Metrics

    In April, Rite Aid continued its streak of monthly sales growth as same store sales increased 3% (y/y) with front-end same store sales improving by 2.7% and pharmacy same store sales by 3%, despite a 300 basis points negative impact from new generic introductions. Prescription count at comparable stores increased 4% over the prior year period, which is likely to have benefited from filling prescriptions for PBM Express Scripts customers that previously went to Walgreen.

    Rite Aid delivered sustained growth throughout 2011 with improved same store sales and lower losses. Last quarter was the fifth consecutive quarter of same store sales growth for the drug retailer, boosted by the success of key initiatives like Wellness+ loyalty program, expanded flu immunization programs and Wellness store remodels. Rite Aid closed down more than 50 under-performing stores during the past one year and remodeled 280 stores, which has also helped improve its comparable same store sales.

    Debt Refinance

    The company is also refinancing its debt to make sure it timely addresses its upcoming debt maturities. It recently offered additional notes worth $426 million due 2020 as part of refinancing of its debt due in 2015. In February, it retired $459 million worth of its debt due in 2015 by offering $481 million worth of notes due in 2020. In view of the recent debt refinancing activity and the stabilization in its operating trends, Fitch has revised the rating outlook to stable from negative. [1]

    SortNewest  |  Oldest  |  Most Replied Expand all replies
7.78-0.03(-0.39%)Feb 10 4:01 PMEST