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Rite Aid rallying on topping earnings expectation and higher outlook forecast

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Shares of drugstore chain Rite Aid Corporation (NYSE:RAD) are advancing this morning after the company reported adjusted fourth quarter EPS of 10 cents a share, which was three cents above last year. Same store sales were up 2.1 percent in the quarter. For the fiscal year 2014, the drugstore chain is forecasting EPS between 31 cents to 42 cents with revenue at range of $26 billion to $26.5 billion. Analyst expectations are EPS of 35 cents on revenue of $25.75 billion. Rite Aid’s turnaround seems to be working.