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Tuesday, December 18, 2007
Rite Aid Scores First
Rite Aid Corporation(RAD) is the first pharmacy chain to sell a DNA test.Rite Aid stores in California,Oregon and Washington are selling a DNA paternity test kit.The kit sells for about 20.00,and the lab results,which are obtained by mail,are about 120.00.The Camp Hill ,Pennsylvania firm is in the midst of its busy Christmas selling season.Rite Aid sells a complete line of Christmas decorations,bargain gifts and candy.A good assortment of gift cards is also available.The Rite Aid gift card is blank.The customer specifies the amount at the register.As well,you get a free 5.00 Rite Aid gift card with any purchase of 49.99 or more at 1-800-Flowers.com.You also get one with your first order of 50.00 or more at PetCareRx.The Single Check Rebate program gives Rite Aid shoppers 5.00 back for each 25-50 spent;10.00 for each 51-100;and 20.00 back for over 100 spent.Shopping at this dynamic store,you are almost sure to leave with more than you expected.The service sector,to which Rite Aid belongs,was recently charted by the Institute for Supply Management,a buyers' trade group in Tempe,Arizona.In November,the service sector fell to 54.1,from 55.8 in October.Readings above 50 indicate expansion.New orders plummeted to 51.1 from 55.7.The survey of purchasing managers noted a decline in employment and an increase in fuel prices.The manufacturing sector declined slightly,from 50.9 in October to 50.8 in November.This was slightly stronger than the 50.1 expected by analysts polled by Thomson/IFR Markets.There were gains in new orders and production,while employment declined.The gains were attributed to more export activity,on acccount of the weak dollar.The ISM surveys are important indicators to the Federal Reserve.Shares of Rite Aid were up this morning,at 4.10.Rite Aid reports earnings on Thursday,and rival Walgreens(WAG) reports on Friday.CEO of Rite Aid is Mary Sammons,who has been interviewed by CNBC's Jim Cramer.
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