Dallas, Texas 11/26/2013 (Financialstrend) – Rite Aid Corporation (NYSE:RAD) is giving its customers a head-start on 29th November, Black Friday- shopping with its 4,600 locations that will be open from least 8 am- 5pm on Thanksgiving Day. As per statistics from the National Retail Federation approximately 140M shoppers will visit various retailers across the country, on the Black Friday weekend.
The executive VP of merchandising for Rite Aid Corporation (NYSE:RAD) said that for retailers as well as shoppers, Black Friday is the day on which the holiday season begins. He said that the store shelves are stocked with all the possible must-haves of the season and all products are available at highly-discounted rates. The company’s stores are also located very conveniently and the extended hours means that shoppers can shop for longer, he said.
Over Monday’s trading session, Rite Aid Corporation (NYSE:RAD) dropped by 2.78%. The shares opened at a price of $5.47, climbed to the intraday high of $5.63 and headed to a close of $5.55. Around 23.93 million shares were exchanged on Monday and an average-volume of 20.31 million shares were traded over a period of 30 days. The 52-week low of Rite Aid Corporation (NYSE:RAD) shares is $0.95 and the 52-week high is $5.63. The company has a market capitalization of $5.08 billion.
About the company
Rite Aid Corporation (NYSE:RAD) is a retail drugstore-chain that has stores in the United States. As of 3rd March 2013, Rite Aid Corporation (NYSE:RAD) operated 4,623 different stores that were located in 31 states across the nation, as well as in the District of Columbia. Rite Aid Corporation (NYSE:RAD)’s stores sells various prescription drugs and a large variety of other merchandise. All of these are called front end products. In the financial year that ended on 3rd March 2013, prescription drug sales accounted for 67.6 percent of the company’s total sales.