Rite Aid is ready to post first-quarter results
Rite Aid (RAD) is slated to report results for the fiscal first quarter of 2019 on June 27. The company is projected to report a loss once again. Its loss per share is expected to land at one cent as compared to a loss of five cents in the corresponding quarter last year. Total sales are projected to decline by 31.6% YoY (year-over-year) to $5.3 billion. However, last year’s numbers also include discontinued operations as a result of asset sales to Walgreens Boots Alliance (WBA).
Read part two and three of this series to learn about Rite Aid’s recent financial performance and part four to know about the expectations for the coming quarter.
About Rite Aid
Rite Aid is the third-largest pharmacy retail chain in the US. The largest two are CVS Health (CVS) and Walgreens Boots Alliance (WBA). Rite Aid announced its intention to merge with privately held Albertsons Companies in February. The deal includes Rite Aid assets that weren’t sold to Walgreens. Rite Aid sold 1,932 stores and three distribution centers to Walgreens last year. The recent deal is about RAD’s remaining 2,569 stores and its pharmacy benefit manager business.
Rite Aid’s stock has risen a moderate 2.2% this year after falling 76% last year. Wall Street, however, expects some recovery in the stock price this year. Read part five to know more.
Investors that want exposure to Rite Aid through ETFs can consider the First Trust Consumer Staples AlphaDEX Fund (FXG), which invests 2.3% of its portfolio in the company.