Revising year-end guidance on account of reimbursement rate headwinds, Rite Aid's stock took a hit after reporting second-quarter earnings
even though the company beat analysts' consensus estimates for the quarter. The retail pharmacy operation recorded second-quarter profit of $127.8 million, or 13 cents per share, more than doubling FactSet consensus analyst estimate of 6 cents a share, according to a MarketWatch report
. And while revenue of $6.5 billion was in line with analyst expectations, Rite Aid topped expected same-store sales growth of 3.3% by recording 4.1% in same-store sales growth.
Rite Aid is still on the right track.