Thursday, June 16, 2016

Rite Aid Misses Profit, Sales Expectations

Image result for rite aidRite Aid Corp. reported Thursday a fiscal first-quarter loss of $4.6 million, or breakeven on a per-share basis, compared with earnings of $18.8 million, or 2 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were 1 cent, below the FactSet consensus of 5 cents. The drug store chain said revenue rose 23% to $8.18 billion, missing the FactSet consensus of $8.24 billion. Retail pharmacy revenue grew 0.4% to $6.7 billion. Same-store sales increased 0.4%, with pharmacy sales rising 0.1% and front-end sales growing 1.2%. . . . more

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