Dallas, Texas 04/11/2014 (FINANCIALSTRENDS) – Rite Aid Corporation (NYSE:RAD) sceptics may have had some doubts about the company’s financial performance in the past quarter. But the resurgent RAD has definitely notched an excellent fourth quarter results again!
Rite Aid Corporation (NYSE:RAD) had plotted a tough and rigorous strategy to reposition on the crowded health clinic sector and drugstore retail chains. And the concluding quarter of the 2013 fiscal numbers make a statement of this company’s continued business acumen.
Rite Aid Corporation (NYSE:RAD) has in its press release noted that in the past quarter, the company has been able to bring-in profits for the sixth consecutive time. In the past fiscal, in terms of comparison, the stock price had dropped below $1. Over the year it has soared well over $7 at the time of the presentation of the results.
Rite Aid Corporation (NYSE:RAD) has since bought out the RediClinic brand of retail health clinics. It has 30 retail clinics, which are typically located in the grocery store or next to groceries in Texas. Currently, the company is poised to add 70 more stores, with many of them located within the drugstores of Rite Aid’s itself.
Competitive grocery-cum-big retailing sector
Rite Aid Corporation (NYSE:RAD) considered move into a market where the competition is thick, needs a deep-lined pocket and financial-sagacity to beat the mores of this sector. Decidedly, RAD has taken on big-time competitors such as Walgreen Co as well as CVS Caremark Corp, which individually hold innumerable such in-grocery drug store.
Rite Aid Corporation has since taken on the booming clinic industry by closing out such assets which are non-performers and looking for ways to grow out of the debt it incurred in Brooks Eckred drugstores purchased nearly 7 years ago.
Thus far, RAD has been successful with its juggernaut drugstore venture, through paced acquisitions. The question now is, how far will Rite Aid Corporation be able to taken on the competition?