2 plays for monday: WAG ,RAD..
3/25/98 - Rite Aid Makes Business Week's Top 50 Best-Performing Companies
Mar. 25 (The Patriot-News/KRTBN)--Rite Aid Corp. has been named to the 1998 "Business Week 50," the magazine's annual ranking of the nation's best-performing companies.
It's the first time East Pennsboro Twp.-based Rite Aid has made the list, and it's the only drugstore chain among the group.
Rite Aid was ranked 48th. Microsoft Corp. topped the list, which is dominated by financial and high-tech firms.
Business Week magazine analyzes the performance of companies in the Standard & Poor's 500 index. To determine the rankings, it grades companies on the basis of top-line revenue growth, earnings growth and total returns over one and three years, plus net margins and return on equity.
Earlier this year, Rite Aid was included for the first time in Fortune magazine's annual survey of "America's Most Admired Companies."
"We have worked extremely hard to make Rite Aid the pre-eminent chain drugstore in America, and our inclusion in this [Business Week] list demonstrates to our shareholders, our employees and, most importantly, to our customers, that our efforts are paying off," said Martin L. Grass, Rite Aid chairman and chief executive officer.
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