Rite Aid Corporation Rallies On Increased Sales
Shares of Rite Aid Corporation (NYSE: 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.
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