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Rite Aid Corporation (RAD) stock is rising in current market; why is this happening?

Rite Aid Corporation (RAD) stock gained in the premarket after announcing fiscal 2021 results. RAD stock values at $7.59, gaining more than 1% from the previous close. RAD stock closed at $7.48 at the end of the last trading session with a trading volume of 3.41 million shares.


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Global Pharma Retail Industry Overview

Rite Aid Corporation (RAD) is a player in the retail pharma industry. Rite Aid Corporation (RAD) is a drugstore chain that operates in America. The company is based in Camp Hill, Pennsylvania. The company was founded in 1962.

The global drug retail industry saw a significant rise after covid-19. The increase in the number of cases of different diseases gave the industry a solid boom. The global drug retail industry is expected to develop rapidly due to increasing chronic illnesses and fierce rivalry among market competitors.

According to estimates, the global drugstore retail market is expected to reach USD 575.12 billion by 2020.

RAD: Q4 and Fiscal 2021 Highlights

  • Q4 2021 revenue is $6.06 billion. In Q4 2020, revenue was $5.9 billion.
  • Net loss in Q4 2021 is $389 million, while in Q4 2020, net loss was $18.4 million.
  • The company’s total revenue increased by $525 million to reach $24.6 billion in 2021. Sales of pharmaceuticals rose by 12% in 2021.
  • Shareholder losses increased from $1.87 to $9.96 per share in the year 2021.
  • Rite Aid EBITDA increased by 16 percent to $505.9 million for the entire year.

Fiscal 2023 Outlook

According to projections, total revenues are expected to range between $23.1 billion and $23.5 billion in the fiscal year 2023. The estimated loss range is from $167 million to more than $210 million. In terms of adjusted EBITDA, the business anticipates $460 to $500 million. According to estimates, the adjusted net loss per share is expected to range between $(0.53) and $(0.63) per share.

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