Rite Aid could have more benefits despite huge concentration of earnings

As the stock market rotates between positive and negative territory, Rite Aid (RAD) – Get report the shares were firmly in the green. The stock rose 20% on Thursday after its quarterly results.

Rite Aid is reaching its highest price since the end of April, and at one point rose more than 26%.

The company delivered top and bottom earnings for its first-quarter fiscal results, a difficult feat for retailers in the current environment.

A loss of 4 cents a share came well ahead of estimates looking for a loss of 38 cents. Revenue grew 12.5% ​​year-over-year to $ 6.03 billion, which reached more than $ 400 million before consensus expectations.