In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Rite Aid reported revenues of $32.64 billion in August 2016 that fell slightly to $32.57 billion in November 2016, Ycharts data indicated. During the same period in 2015, Rite Aid’s revenues grew by $1.46 billion; rising from $27.85 billion in August 2015 to $29.31 billion in November 2015.
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Rite Aid’s appeal to Walgreen Boots Alliance can be summed up in just word: revenue. Walgreen gets an extra $32.64 billion in potential revenue; for an investment of just $9.14 billion, which sounds like a pretty good deal to me.
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The danger here is that Kroger’s operating margins are very thin. The company reported a free cash flow of just $24 million; on revenues of $112.41 billion on July 31, 2016. That made for a profit margin of just 1.44%. To make matters worse Kroger has very little float it; had just $319 million in the bank on July 31, 2016, even though it reported generating $5.11 billion in cash from operations.
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All this means that Kroger might be the best stock to buy take advantage of the paradigm shift that is transforming American retail.
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The most interesting twist in this saga is that it appears Walgreen Boots Alliance can survive without Rite Aid, but Rite Aid might perish without Walgreen. The May 31 numbers show that Walgreen is making money but Rite Aid is not.
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Android Pay is spreading to more retailers and banks in the United States. Its most popular feature will be a rather old fashioned one – the ability to get cash. According to Mashable, some customers will be able to get cash from Bank of America (NYSE: BAC) ATMs using Android Pay.
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Another possibility is that Walgreen will dismember Rite Aid in order to comply with the FTC’s wishes. The larger drug store operator might sell off a large percentage of Rite Aid’s stores, and keep just the ones it wants.
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Turning the clinics over to others proves Walgreens is a good company. It is getting out of a business far from its area of expertise, drugs and retail, yet doing it in a way that does not drive customers away.
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Even if Walgreen is forced to sell or close up to 1,000 Rite Aid locations to comply with U.S. antitrust laws, it would still operate around 16,355 stores worldwide and 11,773 locations in the USA. Note that some analysts think that Walgreen might end up closing as many as 3,000 stores, according to Fortune.
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Walgreen Boots Alliance (NASDAQ: WBA) has made a very brilliant move that could make it the third-largest retailer in terms of revenue. That move is the acquisition of Rite Aid (NYSE: RAD) for $17.2 billion.
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