Stocks Under $1: That would be Rite Aid Corp.

Rite Aid Corporation (NYSE:RAD) have been trading under one buck since Sept 23rd, the Street turned on the company after they reported a fiscal 2011 loss estimate and trimmed its outlook for sales at stores one year.

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Rite Aid Corp (RAD) shares have traded between $0.86 and $1.77 over the past 12 months.  Rite Aid Corp shares are now trading with a P/E Ratio of 0 and EPS of -0.65.  Things aren't getting any better for Rite Aid Corp. shareholders, today they reported September same-store sales decreased 0.9% compared with last September.  Same-store sales are those at stores open at least a year and are a key retail measure.

The company said the results for this September consisted of a drop of 1.2 percent in pharmacy sales and a fall of 0.3 percent in so-call front-end sales - that is, sales other than at the pharmacy counter. Pharmacy sales, according to Rite Aid, were hurt by the introduction of generic medicines, which typically are lower-priced than brand-name drugs.

Rite Aid shares have been forming a down channel and with all the negative press, that trend is likely to continue. Rite Aid operates 4,700 stores nationwide.  

SOURCE: http://www.philly.com/inquirer/breaking/business_breaking/20100930_Rite_...