Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com Inc is allowing some employees who is working from home amid Covid-19 crisis to extend the option until June next year. Reports citing an emailed statement said that employees who work in a role that can effectively be done from home are welcome to do so until June 30, 2021. Following the virus spread, the e-commerce giant had allowed employees to work from home until January. Procter & Gamble's skincare brand Olay will debut its first float in the 94th Annual Macy's Thanksgiving Day Parade to be held on November 26 this year. To highlight the low representation of women in the STEM or science, technology, engineering, and math jobs, Olay said that its Thanksgiving Day Parade float will feature a 'Women in STEM' theme. Alternative meat producer Impossible Foods is debuting its flagship product this week in Asian grocery stores. The plant-based meat products will go on sale at about 200 grocery stores in Hong Kong and Singapore, its first grocery foray outside the U.S. Impossible Beef was the flagship product which made its worldwide grocery store debut in 2019.
Follow RTT