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Rite Aid Corp. (RAD)
Management at Rite Aid Corporation (RAD - Analyst Report) was executing a turnaround strategy centered on increasing the profitability of the existing store base. However, the acquisition of Brooks Eckerd prior to a convincing turnaround in profitability has increased the debt burden and interest expense.
Moreover, Wal-Mart's foray into the retail generic drug market has pressured the company's pharmacy margin. Given the weakness of front-end sales and management's continual lowering of EPS guidance (for larger net losses), the stock's rating remains Underperform.
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| Market Summary | Nov 22, 2009 22:04 pm ET |
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