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What’s the Story behind Rite Aid’s Unimpressive Growth Numbers?

Sonya Bells
What’s the Story behind Rite Aid’s Unimpressive Growth Numbers?

As we discussed in the previous part of this series, Rite Aid’s (RAD) top line has contracted over the last five quarters. Total revenue declined in every quarter of fiscal 2018 and shrunk 0.9% year-over-year or YoY during the first quarter of 2019. In comparison, CVS Health’s (CVS) top line has grown over the past 21 straight quarters while Walgreens Boots Alliance (WBA) has seen positive sales growth over the past five quarters. What’s behind Rite Aid’s deteriorating growth numbers?