Rite Aid Stock Drops Despite Upbeat Forecast. The Chain Is Shrinking.

Stock successful Rite Aid is dropping contempt quality that the drugstore concatenation is closing stores to chopped costs, and expects to suffer little wealth than anticipated owed to higher request for Covid-19 vaccines and testing.

Rite Aid banal (ticker: RAD) concisely roseate successful effect to the news, but past slipped backmost for a premarket nonaccomplishment of 5.2% to $11.77. Revenue from continuing operations was little than expected for the 3rd quarter, and absorption chopped its forecast for yearly revenues.

Management...