FedEx Corporation (NYSE:FDX) reported its results for the second quarter. Net income for FedEx Corporation rose to $497 million ($1.57 per share) vs. $283 million (89 cents per share) in the same quarter a year earlier. This marks a rise of 75.6% from the year earlier quarter. Revenue rose 9.9% to $10.59 billion from the year earlier quarter. FDX beat the mean analyst estimate of $1.52 per share. Analysts were expecting revenue of $10.58 billion.
“Our improved performance was largely a result of effective yield management programs and strong demand for FedEx Home Delivery and FedEx SmartPost services,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “With the healthy growth in online shopping this holiday season, demand is increasing for these residential delivery services.”
Competitors to Watch: United Parcel Service, Inc. (NYSE:UPS), Air Transport Services Group Inc. (NASDAQ:ATSG), Air T, Inc. (NASDAQ:AIRT), OfficeMax (NYSE:OMX), Staples (NASDAQ:SPLS) and Office Depot (NYSE:ODP).
Rite Aid Corporation’s (NYSE:RAD) third quarter loss narrowed, beating estimates. Loss narrowed to $52 million (loss of 6 cents per diluted share) from $79.1 million (loss of 9 cents per share) in the same quarter a year earlier. Revenue rose 2% to $6.3 billion from the year earlier quarter. RAD beat the mean analyst estimate of a loss of 12 cents per share. Analysts were expecting revenue of $6.29 billion.
“We remain pleased with the continued improvement in our top-line results, highlighted by same store sales and Adjusted EBITDA increases for the fourth consecutive quarter,” said John Standley, Rite Aid President and CEO. “Our pharmacy sales growth was strong this quarter, with key drivers being our well-planned and executed flu immunization program and continued favorable customer response to our wellness+ loyalty program.”
Competitors to Watch: Walgreen Company (NYSE:WAG), PetMed Express, Inc. (NASDAQ:PETS), GNC Holdings Inc (NYSE:GNC), CVS Caremark Corporation (NYSE:CVS), China Nepstar Chain Drugstore Ltd. (NYSE:NPD), Walmart (NYSE:WMT), Target (NYSE:TGT), Costco (NASDAQ:COST).