Rite Aid Corporation (RAD) is slated to report third-quarter fiscal 2018 results on Jan 3. After the aforementioned sale of stores to Walgreens, Rite Aid is poised to improve financial leverage and balance sheet.
There’s no getting around it — 2017 was a disaster for drugstore chain Rite Aid Corporation (NYSE:RAD). The beleaguered organization, along with owners of RAD stock, were counting on a major acquisition from rival Walgreens Boots Alliance Inc (NASDAQ:WBA). When all was said and done though, Walgreens was only allowed to buy less than half the number of stores it intended to acquire when the deal was first announced in October of 2015.
Walgreens Boots' (WBA) Retail Pharmacy USA division continues to witness comparable prescription growth as well as a robust retail prescription market.
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This year has been a rocky ride for Rite Aid Corporation (NYSE:RAD), with the RAD stock price down 75% in 2017. At the beginning of the year, there was hope that Walgreens Boots Alliance Inc (NASDAQ:WBA) would pull off the deal to buy Rite Aid. Walgreens quickly worked out another agreement with Rite Aid and regulators gave their stamp of approval in September.
Fred's (FRED) has been struggling with its dismal comps performance stemming from receding traffic and store closures. Also, management cancelled its quarterly dividend recently.
In the stock market, I have a couple rules I like to follow. One of them is to almost always stay away from stocks trading under $5. After all, there is a reason they are under $5, and its not because things are going well. But every once in a while, one finds a hidden gem among these cheap stocks. I think Rite Aid Corporation (NYSE:RAD) is one of those hidden gems.
Rite Aid Corporation (NYSE:RAD) has a new lease on life. Now that the sale of stores to Walgreens Boots Alliance Inc (NASDAQ:WBA) has begun, Rite Aid has the cash flow it needs to reduce a crushing debt burden and RAD stock has bounced off its lows as a result. The only thing left to decide is if Rite Aid will have a second act as a regional drug store or if it destined to sell itself off.
The combination of CVS Health Corp (NYSE:CVS) with Aetna Inc (NYSE:AET) seems like a strong move, and it raises questions as to who will scoop up Rite Aid Corporation (NYSE:RAD) and its stores and pharmacy management business. This may save both firms money because people may be enticed to use CVS clinics instead of going to the doctor. In addition, when people go to the clinics, they’ll be right there in a CVS store.
For more than two years, pharmaceutical giant Walgreens Boots Alliance Inc (NASDAQ: WBA ) has been "tap dancing horizontally" with smaller rival Rite Aid Corporation (NYSE: RAD ). In the end, ...
Most importantly, Rite Aid is finally starting to transfer ownership of stores to Walgreens. Rite Aid recently added Apple Pay as a payment option for online purchases. Rite Aid is getting rid of a big chunk of its under-performing brick-and-mortar locations while simultaneously boosting its online business.
Fred's (FRED) third-quarter fiscal 2017 performance is expected to be hurt by dismal comps trend.
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The drugstore company is about to collect a windfall of cash from Walgreens Boots Alliance.