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Anemic Earnings Sent Rite Aid's Shares Down Today

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Anemic Earnings Sent Rite Aid's Shares Down TodayPhoto, wide shot, wide-angle lens, Convenience store, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/35bdb659-cf5a-466a-95a9-428a230a2d2e.png

Anemic Earnings Sent Rite Aid's Shares Down Today

After Rite Aid (NYSE: RAD) released a fiscal second-quarter report Thursday morning showing sales and adjusted net income that were lower year over year, shares of the drugstore chain tumbled, and were off 11.2% at 12:30 p.m. EDT.

Rite Aid spent a lot of time focusing on its now-failed merger plans with Walgreens Boots Alliance (NASDAQ: WBA), and according to management, that combined with pricing pressure to take a toll on its financial performance.

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Source: Fool.com