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
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT