Benzinga | Sep 24, 2020 03:03PM EDT

Why Rite Aid's Stock Is Trading Lower Today

Rite Aid (NYSE:RAD) shares are trading lower on Thursday despite the company reporting better-than-expected second-quarter results and lower EPS gudiance.

Rite Aid reported EPS of 25 cents, which beat the estimate by 25 cents. Sales came in at $5.98 billion, which beat the $5.74 billion estimate.

The company sees full-year 2021 adjusted net income between a loss of 67 cents per share and 9 cents, compared to the 38 cent estimate.

Rite Aid is a large retail drugstore chain in the United States. The company reports via two segments: retail pharmacy and pharmacy services.

Rite Aid shares were trading down 16.69% at $11.13 at the time of publication. The stock has a 52-week high of $23.88 and a 52-week low of $6.59.

Photo credit: Mike Mozart, Flickr