The third largest retail drugstore in the U.S. based on revenues and number of stores, Rite Aid Corporation (RAD), recently posted its fourth-quarter 2011 results.
Street analysts have had nearly a week to ponder the news. In the paragraphs that follow, we cover the recent earnings announcement, subsequent analysts' estimate revisions as well as the Zacks Rank and long-term recommendation on the stock.
Quarterly Review
On April 07, 2011, Rite Aid reported a loss of 24 cents per share for the fourth quarter of 2011, which was in line with the prior period loss. However, quarterly loss was above the Zacks Consensus Estimate of a loss of 21 cents per share. Higher termination and impairment charges offset the positive impact from improved gross margin coupled with lower selling, general and administrative (SG&A) expense and LIFO charge.
Rite Aid's revenues came in flat at $6,456.5 million over the prior year. Same-store
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