SOURCE: The Bedford Report

The Bedford Report

August 04, 2011 08:16 ET

Rite Aid and Walgreen Streamline to Success

The Bedford Report Provides Equity Research on Rite Aid & Walgreen

NEW YORK, NY--(Marketwire - Aug 4, 2011) - The drug store industry has been showing signs of recovery in recent months as efforts to cut costs and streamline operations have started to boost bottom lines. While the unfortunate unemployment situation is hurting consumer confidence, the drug store sector has been using promotional activity to help lure cash-conscious consumers. The Bedford Report examines the outlook for companies in the Drug Stores Industry and provides investment research on Rite Aid Corporation (NYSE: RAD) and Walgreen Co. (NYSE: WAG). Access to the full company reports can be found at:

While generic offerings in pharmacy segments caused an initial drop in drug store earnings, long term it is expected to result in increased prescription volumes. There is also movement towards a more comprehensive offering of health-care services that seeks to make drug stores into more of a one-stop location where consumers can get vaccinations, prescription medicines and groceries.

Rite Aid CEO, John Standley said the drug store plans to fuel growth by increasingly administering the immunizations Americans used to receive from their personal physicians. Rite Aid expects to more than double its injections this fiscal year to some 1.5 million.

The Bedford Report releases equity research on the Drug Store Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Last week Rite Aid announced that July same store sales increased 1.9 percent over the prior-year period. Total drugstore sales for the four-week period increased 1.6 percent to $1.916 billion compared to $1.886 billion for the same period last year. Prescription revenue accounted for 67.6 percent of drugstore sales.

In the most recent quarter, Walgreen said that selling, general and administrative (SG&A) expenses skyrocketed more than 7 percent year over year to $4.2 billion. The company said that it opened or acquired 41 new drugstores (a net gain of 25 after relocations and closings) in the third quarter.

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