Rite Aids sales bode well for earnings???

Rite Aid Corporation (NYSE:RAD) just announced its August sales numbers and they were quite strong. For the five week period that ended August 30, 2014, same store sales increased 3.9% relative to the comparable year-ago period. Further, the company reported that its August front-end same store sales increased 1.1 percent. Strong growth was noted for pharmacy same store sales. The pharmacy same store sales increased 5.2% relative to 2013 August sales. Within the pharmacies, more prescriptions are being filled, suggesting that Rite-Aid may be pilfering business from big box store pharmacies, or its larger competitors CVS Caremark (NYSE:CVS) and Walgreen (NYSE:WAG). This is because prescription count at comparable stores increased 3.7% over the 2013 period. That caught my attention. In terms of revenues for the period, total drugstore sales increased 3.7% to $2.515 billion compared to the $2.425 billion for August 2013. This bodes well for......READ MORE