Barclays Plc, the U.K.’s second- largest bank, said it intends to generate additional revenue of as much as 6.4 billion pounds ($ 10.4 billion) by 2013.
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The European Central Bank may step up its inflation fight as up to a third of its Governing Council is replaced this year.
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U.S. stocks advanced, extending a third straight monthly gain for benchmark indexes, amid improving economic data and as billionaire investor Warren Buffett said he’s looking to make more acquisitions.
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Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
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Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
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Home Page > Finance > Day Trading > Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
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Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
By: Ronald Russo
About the Author
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor’s Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.
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Article Source: http://www.articlesbase.com/ – Rite-Aid (NYSE:RAD): Walmart Eyes Rite-Aid in Expansion Plans
It’s logical that Walmart would expand to a smaller venue and must grow market share so they can take over the retail world..they don’t already own. They have openly said in 10Q filings that expansion and acquisitions are part the plan. Reviewing logical acquisitions one stumbles upon Rite-Aid (NYSE: RAD) because of the physical land and Real Estate they own as part of their portfolio. Rite-Aid carries some speculation in it’s shares, and we are in the M&A season…but this stock has performed so poorly from an operating standpoint that they need the Walmart touch and discipline.
Sales of drugstore items like beauty supplies improved in Rite Aid’s fiscal second quarter, but sales of seasonal items like lawn chairs and pool toys were weak. “Some of the core categories appear to be stabilizing and growing,” said the company’s chief executive, John Standley. “Where we’re still fighting a little bit is really in our seasonal categories and general merchandise. Those are really the categories that we’ve got to get going here.”
Rite Aid, the nation’s third-largest drugstore chain after Walgreen and CVS Caremark, lowered its forecast for fiscal 2011 to a loss of 46 cents to 67 cents a share from a previous forecast of a loss of 41 cents to 65 cents a share. Analysts on average had expected a loss of 50 cents a share.
Rite Aid reported a quarterly net loss of 7 million, or 23 cents a share, in the quarter ended Aug. 28, compared with a loss of 6 million, or 14 cents a share, a year earlier. Excluding items, the loss was 18 cents a share; on average, analysts were expecting a loss of 16 cents a share, according to Thomson Reuters.
Revenue for the quarter fell 2.5 percent, to .16 billion, slightly below analysts’ average estimate of .19 billion.
Retailers have been hurt by continuing economic weakness as consumers have tightened their belt, but drugstores have also had to contend with people filling fewer prescriptions as they cut back on doctor visits.
Revenue declined 1.5 percent at Rite Aid stores open more than a year. Sales of general merchandise fell 0.9 percent, while pharmacy sales dropped 1.8 percent as lower-priced generic drugs were introduced.
Rite Aid shares traded as low as 92.6 cents on Thursday and ended regular trading down 14 cents, or 12.8 percent, at 95.9 cents.
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Ronald Russo -
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor’s Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.
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Source: http://www.articlesbase.com/day-trading-articles/rite-aid-nyserad-walmart-eyes-rite-aid-in-expansion-plans-3333303.html
Article Tags:
M&A, markets, RAD, retail stocks, Rite-Aid, Speculation, stocks, Takeover Talk, trader talk, Walmart, WMT
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