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Rite Aid Corp. Q2 Profit Tops Estimates; Issues FY21 Outlook - Quick Facts

Rite Aid Corp. (RAD) reported second quarter adjusted net income per share from continuing operations of $0.25 compared to $0.12, previous year. On average, four analysts polled by Thomson Reuters expected the company to report breakeven per share, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenues from continuing operations were $5.98 billion compared to $5.37 billion, last year. The company said the increase in revenues was driven by growth at both the Retail Pharmacy and Pharmacy Services segments. Analysts expected revenue of $5.74 billion, for the quarter.

"We are pleased with our second quarter performance as we delivered another quarter of strong results while making solid progress on our bold, new RxEvolution strategy," said Heyward Donigan, CEO, Rite Aid.

For fiscal 2021, Rite Aid anticipates revenues to be between $23.5 billion and $24.0 billion with same store sales expected to range from an increase of 3.0 percent to an increase of 4.0 percent. Adjusted results are projected between a loss of $0.67 per share and profit of $0.09 per share.

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