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