Rite Aid Corporation (NYSE:RAD) is a pharmacy, drugstore, and general merchandise retailer. The company operates approximately 2,900 stores in the United States. Rite Aid Corporation is a subsidiary of Walgreens Boots Alliance, Inc. (NAsdaQ:WBA).
Rite Aid Corporation had a net income of $2.1 billion for fiscal year 2017. The company’s stock price has increased by 11.5% over the past year.
The company has been in the news for several reasons. The first reason is the recent proposed merger between Walgreens and Rite Aid. The merger would create the largest pharmacy chain in the United States.
This proposed merger has been met with significant opposition from the public. If the merger is approved, it could have a significant impact on Rite Aid Corporation’s stock price.
Another reason for the company’s recent stock price increase is the company’s strong performance in fiscal year 2017. The company’s net income was $2.1 billion, which was an increase of $0.8 billion from the year before.
The company’s revenue was also up by $1.9 billion, which was mostly due to increases in pharmacy sales.
Overall, Rite Aid Corporation is a good company that is doing well in the current market. The company’s stock is a buy.
