Rite Aid Corporation Rallies On Increased Sales

Shares of Rite Aid Corporation RAD rallied in response to same-store sales news reported Thursday morning.

Rite Aid reported that September same-store sales increased 5.1 percent "over the prior year period."

Pharmacy same store sales were up 6.3 percent and total drug store sales for September increased 4.5 percent to $2.011 billion, compared to $1.935 billion in the same period last year.

For the calendar year, Rite Aid's sales were up overall. Total drugstore sales at the end of September showed a 3.3 percent increase with sales of $14.924 billion compared to $14.449 billion in the previous year period.

Rite Aid Corporation opened up more than 4.5 percent higher, trading recently at $5.03.