Friday, December 20, 2019

Rite Aid swings to profit, beats Street in healthy Q3

Chain Store Age
The drugstore retailer reported net income of $52.3 million for the third quarter of fiscal 2019, compared to a net loss of $17.3 million during the same period a year earlier.

Same-store sales from retail pharmacy decreased 0.1%, with a negative impact from new generic introductions. Retail same-store pharmacy sales consisted of a 0.1% increase in pharmacy sales and a 0.5% decrease in front-end sales. Front-end same-store sales, excluding cigarettes and tobacco products, increased 1%. . . . more