Rite Aid (RAD) Drops Ahead of Earnings

Rite Aid Corporation (RAD) is down almost 5% today with shares trading at $1.64. Rite Aid is set to announce 4th quarter earnings tomorrow before the market opens. Could today's stock drop be a sign of bad news to come tomorrow? Analysts are expecting Rite Aid (RAD) to report revenue of $6.49 billion and an operating loss of 19 cents per share for the quarter. Tomorrow's earnings report should give insight as to how Rite Aid is performing in this tough economy versus drugstore chains CVS and Walgreens. A key metric to keep your eye on is same store sales growth. If same store sales continue to decline, than expect a continued selloff in Rite Aid's shares.