Thursday, December 20, 2018

Rite Aid loss narrows as it chases rivals

Retail Dive
Rite Aid on Wednesday reported that third quarter revenues from continuing operations rose to $5.5 billion from $5.4 billion in the prior year's quarter. Same-store sales from retail pharmacy continuing operations in the quarter rose 1.6% year over year, including a 1.5% decline in front-end sales, according to a company press release.

Net loss from continuing operations in the quarter narrowed to $17.3 million from $18.2 million a year ago, the company said. Adjusted net income from continuing operations rose to $14.7 million from last year's third quarter adjusted net income in that metric of $8.5 million, thanks to expense reductions.. . . more