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Thursday, October 02, 2008
Rite Aid Posts 1.7% Rise In September Same-store Sales
Michelle Donley
MarketWatch Pulse
NEW YORK -- Rite Aid Corp. said Thursday that its September same-store sales rose 1.7%. Front-end same-store sales increased 3.4%, while pharmacy same-store sales rose 1.0%. Total drugstore sales for the four weeks ended Sept. 27 slipped 0.8% to $1.97 billion.
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If you've seen TV footage of an active trading pit, you've probably noticed the atmosphere is uproarious and wild. The reason for all the shouting? Open outcry.
On exchange floors that use the open-outcry system, traders shout prices they want to sell while others yell back the price they want to buy at. They also use hand gestures to communicate with each other.
This system has been used for a long time, but is being replaced with modern technology. Some argue electronic exchanges can do the job faster and more accurately. One of the few exchanges that continue to use open outcry is the New York Mercantile Exchange.
