SOURCE: The Bedford Report

The Bedford Report

March 08, 2011 11:25 ET

Rite Aid & CVS Caremark Branch Out for Profits

The Bedford Report Provides Analyst Research on Rite Aid & CVS Caremark

NEW YORK, NY--(Marketwire - March 8, 2011) -  With unemployment numbers remaining high and discretionary spending still low, drug retailers have struggled to regain their footing following the recession. Drug stores received a revenue boost in February, however, as flu cases surged. In addition to flu-related revenues, drug stores have begun to benefit from alternative revenue sources. The Bedford Report examines the outlook for companies in the Drug Store Industry and provides research reports on Rite Aid Corporation (NYSE: RAD) and CVS Caremark Corporation (NYSE: CVS). Access to the full company reports can be found at:

Rite Aid posted a one percent month-to-month improvement in same store sales in February, with pharmacy revenue improving 0.9 percent and revenue from products sold at the front end of the stores -- such as food and cosmetics -- gaining 1.1 percent.

To kick off the month of March, Rite Aid announced that it successfully regained compliance with the New York Stock Exchange. The New York Stock Exchange's rules require that a company's stock must trade at a minimum average closing price of more than a $1 over a consecutive 30-day trading period.

The Bedford Report releases regular market updates 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.

Several big name drug stores have been looking to generate revenues through alternative means to make up for the drop in drug spending. CVS Caremark, for example, is making a significant effort to tap into the lucrative food market. The company says it will double the size of food sections in 3,000 of its 7,000 stores by year's end.

Last month CVS reported adjusted EPS of 80 cents in the fourth quarter of fiscal 2010. Revenues decreased 4.1 percent year over year to $24.8 billion as its Pharmacy Services segment still disappoints. The company's pharmacy services segment recorded nearly a 10 percent decline in revenues during the quarter to reach $12.2 billion.

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