Rite Aid Ready to Report 2Q17 Earnings: What to Expect
Rite Aid to post 2Q17 results
Pennsylvania-based Rite Aid (RAD) is slated to release its fiscal 2Q17 results on Thursday, September 28, 2017.
The company’s EPS (earnings per share) is projected to fall to zero from last year’s $0.01. However, that would be an improvement over the first quarter when it reported -$0.05 per share.
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Total revenue in the second quarter is projected to fall 2.4% to $7.8 billion.
In this series, we’ll be covering Rite Aid’s recent financial performance and expectations for the coming quarter.
About Rite Aid
Rite Aid is the third-largest pharmacy retail chain in the United States. The largest two are CVS Health (CVS) and Walgreens Boots Alliance (WBA). Rite Aid operates about 4,500 stores in 31 states and the District of Columbia.
Walgreens made an acquisition offer for Rite Aid in October 2015. However, it failed to get a nod from the FTC (Federal Trade Commission) on concerns of diminishing competition. In June 2017, Walgreens renewed the deal and offered to purchase 2,186 Rite Aid stores and its three distribution centers.
Eight Wall Street analysts cover Rite Aid. Six of them have given it a “hold” recommendation, one has recommended a “buy,” and one has recommended a “sell.”
Investors looking for exposure to Rite Aid through ETFs could choose to invest in the First Trust Consumer Staples AlphaDEX ETF (FXG), which invests 1.4% of its portfolio in the company.