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
A federal judge has dismissed a lawsuit that accused Starbucks (SBUX) of cheating customers by "under-filling" its cold beverages. The lawsuit alleged that Starbucks is deceiving its customers by serving iced drinks with too much ice cubes and less coffee "than advertised." "If children have figured... Apparel retailer Guess? Inc. (GES) on Wednesday reported an increase in profit for the second quarter, despite lower-than-expected revenues reflecting a one-time gain. Earnings for the quarter easily trumped Wall Street estimates, sending the company's stock up over 14 percent in extended hours. Guess'... HP Inc. (HPQ) on Wednesday reported a drop in profit for the third quarter hurt largely by a 4 percent drop in revenues as the company continues to struggle with weak demand for printers. Shares of the computer and printer maker slipped 5 percent in extended session after it detailed a weak fourth quarter...
comments powered by Disqus
Follow RTT