Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Rite Aid Q4 Loss Reduces; Guides FY13 - Quick Facts

RELATED NEWS
Trade RAD now with 

Drugstore chain operator Rite Aid Corp. (RAD: Quote) posted a narrower fourth-quarter net loss of $161.3 million or $0.18 per share versus a $205.69 million or $0.24 per share loss in the previous year, mainly benefitting from continued growth in same store sales and an extra week in the quarter.

The Camp Hill, Pennsylvania-based company's quarterly revenues totaled $7.15 billion, up 10.7 percent, compared with last year's $6.46 billion, chiefly as a result of the additional week in fiscal 2012 and an increase in same store sales, partially offset by store closings. Fourth-quarter same store sales went up 3.0 percent over the prior-year period, consisting of a 1.6 percent growth in the front end and a 3.8 percent rise in the pharmacy.

On average, 6 analysts polled by Thomson Reuters expected loss per share of $0.14 on $6.98 billion revenue for the quarter. Analysts' estimates typically exclude one-time items.

For fiscal 2013, the company sees net loss between $103 million and $267 million or a loss per share of $0.13 - $0.31, while 7 analysts anticipate loss of $0.25 per share for the full year.

In addition, Rite Aid estimates fiscal 2013 sales to be between $25.4 billion and $25.8 billion with same-stores sales expected to range from flat to an increase of 1.5 percent over fiscal 2012, whereas 8 analysts project sales of 25.74 billion for the year.

Register
To receive FREE breaking news email alerts for Rite Aid Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Looking to increase pressure on Congress, the White House released a report on Tuesday warning of the economic costs of delaying action to address climate change. With the August recess looming, House Republican leaders are hopeful they can pass legislation to address the crisis along the U.S.-Mexico border before the end of the week. The House is expected to vote on a bill providing $659 million in funding for the border crisis, well below the $3.7 billion requested by the Obama administration. After moving mostly higher in early trading on Tuesday, stocks have given back ground over the course of the trading session. A negative reaction to news of new European sanctions against Russia contributed to the pullback by the markets.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.