Check out the bad medicine at Rite Aid.
 
Drugs might be recession-resistant, but drugstores may not be, at least in the case of Rite Aid.
 
The Pennsylvania -based chain posted its sixth straight quarterly loss amid falling sales and now says it expects a bigger loss for the year.
 
The company, whose shares closed at 51 cents on Wednesday, recently had shareholders approve a reverse stock split just so that it could maintain a New York Stock Exchange listing.
 
December same-store sales are up a scant 0.4 percent so far, with general merchandise sales down, the company’s president said.
 
For the year, same-store sales now look weaker than originally expected, the company said. It still expects total sales of $26 billion to $26.5 billion.
 
The company is taking some therapeutic measures, though. Rite Aid has been closing stores and looking to cut costs.

We’ll see how other drugstores are faring when Walgreens reports its quarterly results on Monday.
 
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European retailers brace for downturn (WWD, subscription required)

(Photo:Rite Aid website)