Shares of drugstores chain Rite Aid Corporation (RAD) are falling more than 15% Wednesday morning after reporting wider loss in the third quarter, due to lower revenue from Covid vaccines and testing.
For the third quarter, the company reported net loss of $67.1 million, or $1.23 loss per share, wider than $36.1 million, or $0.67 per share loss in the same quarter a year ago.
Excluding one-time items, loss was $7.9 million, or $0.14 per share
Revenues for the quarter declined to $6.08 billion from $6.23 billion in the prior year's quarter.
RAD, currently at $3.72, has traded in the range of $3.68-$15.62 in the last 1 year.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.