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Shares of Rite Aid Soar After Trumping Analysts' 2015 Forecasts

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Shares of Rite Aid Soar After Trumping Analysts' 2015 Forecasts

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Shares of Rite Aid Soar After Trumping Analysts' 2015 Forecasts

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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.

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