On Tuesday, Shares of Rite Aid Corporation (NYSE:RAD), lost -1.77% to $6.09.
Rite Aid Corporation stated operating results for its fiscal second quarter ended August 29, 2015. The company stated revenues of $7.7 billion, net income of $21.5 million or $0.02 per diluted share, and Adjusted EBITDA of $346.8 million, or 4.5 percent of revenues.
Second Quarter Summary
Revenues for the quarter were $7.7 billion as compared to revenues of $6.5 billion in the prior year’s second quarter, an improvement of $1.2 billion or 17.5 percent. Retail Pharmacy Segment revenues were $6.6 billion and raised 1.9 percent primarily as a result of an improvement in same store sales. Pharmacy Services Segment revenues were $1.1 billion from the date of the acquisition of EnvisionRx, which was June 24, 2015 through the end of the quarter.
Same store drugstore sales for the Retail Pharmacy Segment raised 2.1 percent over the prior year, comprising of a 0.3 percent improvement in front-end sales and a 2.8 percent improvement in pharmacy sales. Pharmacy sales comprised an approximate 223 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores raised 0.2 percent over the prior year period. Prescription sales accounted for 69.3 percent of total drugstore sales, and third party prescription revenue was 97.8 percent of pharmacy sales.
Net income was $21.5 million or $0.02 per diluted share contrast to last year’s second quarter net income of $127.8 million or $0.13 per diluted share. The decline in net income resulted primarily from a $33.2 million loss on debt retirement related to the redemption of the company’s 8.00% senior secured notes, higher depreciation and amortization expense related to EnvisionRx and an improvement in capital spending, higher interest and transaction costs incurred in connection with the company’s acquisition of EnvisionRx, and the cycling of a prior year benefit of about $40 million related to the Company’s transition to its new drug purchasing and delivery arrangement with McKesson.
Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN), inclined 1.46% to $10.44, during its last trading session.
Huntington Bancshares Incorporated anticipates to report its third quarter earnings on Thursday, October 22, 2015, before the market opening.
Huntington’s senior administration will host an earnings conference call the same day at 10:00 a.m. (Eastern Daylight Time).
Huntington Bancshares Incorporated (Huntington) is a diversified regional bank holding company. The Company operates through its partner, The Huntington National Bank (the Bank). It provides commercial, small business, consumer and mortgage banking services, automobile financing, equipment leasing, investment administration, trust services, brokerage services, insurance programs, and other financial products and services.
Shares of Bristol-Myers Squibb Co (NYSE:BMY), inclined 2.63% to $58.97, during its last trading session.
Bristol-Myers Squibb Company - Recently, actor Jack Huston, a star of the hit television show Boardwalk Empire and the forthcoming remake of Ben Hur, took on an important new role as lung cancer advocate as he challenged Europeans to A.C.T. – be Aware, get Checked, and Talk with their doctor about lung cancer. After losing his grandfather to lung disease and his best friend and mentor, Peter Blythe, to lung cancer, Huston was motivated to take action by partnering with Bristol-Myers Squibb Company (BMY) and leading advocacy group Lung Cancer Europe (LuCE) to ask the public, particularly those at high risk, what’s their Next Lung Cancer A.C.T.?
Lung cancer is the number one cancer killer in Europe with an estimated 353,000 deaths each year – more than breast cancer, colorectal and prostate cancers combined. In Europe, lung cancer is the third most common cancer among women. Despite the growing prevalence, a new survey conducted among more than 8,200 participants in nine European countries showed that lung cancer knowledge is very low, with nearly six in 10 people (57%) surveyed saying that they are not knowledgeable about the disease. Further, one in five people (20%) could not identify the symptoms of lung cancer, counting persistent cough, and one in 10 people (10%) do not know the risk factors, such as exposure to cigarette smoking.
Huston, together with lung cancer advocates and oncologists, unveiled the survey results at the European Cancer Congress (ECC) 2015 in Vienna, as well as a short film highlighting the personal stories of lung cancer patients.
Bristol-Myers Squibb Company (BMS) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products across the world. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. The Company manufactures its products in the United States, Puerto Rico and in six foreign countries.
Finally, Wal-Mart Stores, Inc. (NYSE:WMT), ended its last trade with 0.17% gain, and closed at $63.77.
Sam’s Club - As the country heads into coffee season this fall and celebrates National Coffee Day, Denver-based Luna Roasters coffee declares that 50 Sam’s Club locations and SamsClub.com are now offering their specialty grade, small batch roasted, organic coffees.
In these select clubs, all will offer the Organic Estate Blend made with only the top 2% of Arabica coffee beans for a deliciously rich and full bodied coffee that has subtle hints of cocoa with a smoky flavor. Some clubs will also offer Fair Trade Organic Peruvian Coffee, which is roasted perfectly to bring out the Peruvian origin natural flavors of a subtle nutty undertone with some hints of fruit.
Members in the select 50 clubs will have the choice of two varieties and, across the nation, members have the choice of twelve that can be ordered online and freshly delivered right to their doorstep. With this program, Sam’s Club members can explore the various blends and single origin varieties that are sure to offer a wide range of coffee experiences.
Sam’s Club®, a division of Wal-Mart Stores, Inc. (WMT), is a leading membership warehouse club offering superior products, savings and services to millions of members in 653 clubs in the U.S. and Puerto Rico.
Wal-Mart Stores, Inc. is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S., Walmart International and Sam’s Club.
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