Tuesday, August 7, 2018

Rite Aid updates full-year outlook

Chain Store Age
Rite Aid revised the outlook it issued in April based on a more stable reimbursement rate environment, fees under the Walgreens Boots Alliance transition services agreement, generic drug purchasing and other factors. However, the new figures don’t include the expected impact of its proposed merger with the privately-held grocer, Albertsons.

Rite Aid said it expects its generics purchasing efficiencies to come in $80 million less than expected in April, which has an effect on its adjusted EBITDA, net loss and adjusted net loss per diluted share estimates. It now expects adjusted EBITDA to stand between $540 million and $590 million, down from the range of $625 million to $675 million it had expected earlier this year.. . . more