Tag Archives: Rite

Rite Aid stock crashes 20% after Wall Street analyst suggests retailer could go out of business

Rite Aid stock crashes 20% after Wall Street analyst suggests retailer could go out of business

Rite Aid’s (RAD) outlook is a hot mess — so hot the company may not be in business much longer. At least that’s the word from Deutsche Bank analyst George Hill, who issued a damning downgrade of the struggling retailer on Thursday. Hill slashed his rating on Rite Aid to Sell and slapped the stock with a $1 price target. Most worrisome — at least if one still owns Rite Aid’s stock — is that Hill suggests Rite Aid may go under. “We see a likely risk that the company provides guidance next… Source link

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Rite Aid is closing more stores during COVID — here’s how many stores have been closed

Many people in the country are out now again looking for COVID-19 tests and vaccines with the Omicron variant raging, but that isn’t stopping publicly traded Rite Aid (RAD) from closing underperforming locations in a bid to further improve its profits.  The pharmacy chain revealed Tuesday it will shutter up to 63 stores in coming months. Closures began in November, Rite Aid said. The closures are expected to pad earnings before interest, taxes, depreciation and amortization by $25… Source link

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