Dallas, Texas 10/22/2013 (Financialstrend) – Rite Aid Corporation (NYSE:RAD) stock has been on the move over the past few quarters at the browsers. In the past month it has seen its value appreciate by 12% in the past 30 days. It has appreciated by 82% in the past quarter. The strong performance of the stock is being backed by the drug seller’s attempts to increase touch points with its target audience and retain them. It has also initiated campaigns to win back lost market share to the e-retailing biggies like Walgreens and CVS chains.
One such initiative of Rite Aid is a new loyalty program based around wellness programs and drugs. The company has disclosed that this particular successful campaign drew in 930,000 new customers. On data mining the profile of the customers it had acquired, the retailer was able to determine that majority of these new customers were in the senior citizens age group. Analysts believe that it was a smart move on part of Rite Aid Corporation (NYSE:RAD) to target and acquire senior citizens as regular customers. This was because marketers believe this age group to be the most prone to stick to their purchase habits and competitors will have a tough time gaining their patronage.
Thanks to these sustained efforts to add to its customer base while cutting down cost and increasing efficiency the firm has been able to post annual sales of $25 billion in the trailing 12 months. In the same period it has managed to record net income of $296 million. So strong has been the momentum generated by this retailing under dog that its 200 day moving average has gone up by an astounding 90%. When this statistic is coupled with the 344% increase the stock has seen over the past 12 months, it becomes clear to discerning investor that this stock is returning value to its share holders.