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Rite Aid Plunges 31%, Stung by ‘Cautious Consumer’

Mary Sammons was super weak in her defense of her company and own actions on Cramer's show this week. It was pitiful and inspired no confidence that truly Rite Aid will really become profitable. Before her efforts started 4-5 years ago, the stores were half-empty on things to sell. Now, there are stocked, but, she is not competitive on prices. That is the problem. The consumer will come in, but she has to undercut CVS, Costco, Walmart, and all the others. She needs market share improvement. Forget the margins for now, but get traffic and give great deals to the customers. If not, Rite Aid is the next Circuit City, if not there already. It will be BK in 2 years.