logo
Share SHARE
FONT-SIZE Plus   Neg

Rite Aid Q4 Loss Reduces; Guides FY13 - Quick Facts

Drugstore chain operator Rite Aid Corp. (RAD) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
While buying interest was somewhat subdued, stocks managed to end Tuesday's trading mostly higher. The gains on the day partly offset the steep drop seen in the previous session, although the major averages remain well off their recent highs. Media and entertainment giant Walt Disney Co. said Tuesday that Christine McCarthy, the company's Treasurer for the past 15 years, will succeed James Rasulo as Chief Financial Officer. New Jersey Governor Chris Christie officially kicked off his campaign for president at an event on Tuesday, joining an already crowded Republican field. Speaking at a rally at his former high school in Livingston, New Jersey, Christie declared he is ready to fight for the people of the United States of America.
comments powered by Disqus
RELATED NEWS
Trade RAD now with 
Follow RTT