Shares of Rite Aid (RAD +5.8%) kick up a healthy gain after the company announces that it will offer $481M in senior notes to help it repurchase higher-rate debt that is slated to come due in 2015. The bigger issue: Rite Aid is now up 26% YTD, standing in stark contrast to rival Walgreen's (WAG -1.1%) lagging 3.7% YTD gain as millions of Express Scripts customers fill prescriptions elsewhere. [View news story]
Looks like you missed a decimal point. January sales were only up 2.2%.
Shares of Rite Aid (RAD +5.8%) kick up a healthy gain after the company announces that it will offer $481M in senior notes to help it repurchase higher-rate debt that is slated to come due in 2015. The bigger issue: Rite Aid is now up 26% YTD, standing in stark contrast to rival Walgreen's (WAG -1.1%) lagging 3.7% YTD gain as millions of Express Scripts customers fill prescriptions elsewhere. [View news story]