Rite Aid Adopts Tax Benefits Preservation Plan to Protect Valuable Tax Assets
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Rite Aid (RAD) Will Close Up Today, Susquehanna's Stauff Predicts
January 4, 2018 9:45 AM ESTSusquehanna's special situation analyst Joe Stauff said while Rite Aid (NYSE: RAD) is trading lower pre-open they expect the stock to be up on the day following Q3 results. He provided 4 primary take-aways:
Divestiture Closings Accelerating and Will Reduce RAD's Debt To ~$3B By April. Management seemed VERY confident in the divestiture closing process (as of 1/3/18, RAD closed 356 store closings receiving $714m in proceeds or 18.5% of the 1,932 stores to be sold) and repeatedly reiterated that they expect to complete the closing by end of April 2018 ("spring," "in fiscal 1Q"... More
