Plus   Neg

Rite Aid Provides FY20 Outlook - Quick Facts

Rite Aid Corp. (RAD) announced, for fiscal 2020, the company expects sales to be between $21.5 billion and $21.9 billion with same store sales expected to range from flat to an increase of 1.0 percent over fiscal 2019. Adjusted EBITDA is expected to be between $500.0 million and $560.0 million. Adjusted result per share is expected to be between a loss of $0.01 and income of $0.04. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.02 on revenue of $22.09 billion. Analysts' estimates typically exclude special items.

The company reported a fourth-quarter adjusted net loss from continuing operations of $13.3 million or $0.01 per share, compared to a loss of $7.8 Million or $0.01 per share, prior year. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02 for the quarter. Adjusted EBITDA from continuing operations was $134.1 million compared to $154.8 million, last year.

Fourth-quarter revenues from continuing operations were $5.38 billion compared to $5.39 billion in the prior year's fourth quarter. Analysts expected revenue of $5.56 billion for the quarter. Retail Pharmacy Segment revenues were $3.97 billion and were flat compared to the prior year period. Revenues in the Pharmacy Services Segment were $1.46 billion, an increase of 1.2 percent compared to the prior year period, which was due to an increase in Medicare Part D membership. Same store sales from Retail Pharmacy continuing operations for the fourth quarter increased 0.7 percent over the prior year, consisting of a 2.1 percent increase in pharmacy sales and a 1.9 percent decrease in front-end sales.

On April 10, 2019, Rite Aid's Board approved the implementation of the Reverse Stock Split at a ratio of 1-for-20. Once effective, the reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 1.08 billion to approximately 54 million. Rite Aid's common stock will begin trading on a split-adjusted basis on the NYSE, at the market open on April 22, 2019.

Shares of Rite Aid Corp. were down more than 5% in pre-market trade on Thursday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Canada's new regulations that provide extra protection for airline passengers will kick in Monday, July 15. The new rules from the Canada Transportation Agency, which has received severe backlash from industry and consumer advocates, requires airlines to compensate passengers up to $2,400 if they... California-based Fieldsource Food Systems Inc. has recalled about 13,000 pounds of diced beef and chicken products due to misbranding and undeclared allergens. The company says the product contain wheat, a known allergen, but is not declared on the product label. The uncooked, marinated, diced beef... The U.S. may approve certain companies to re-start new sales to Chinese telecom equipment giant Huawei in as soon as two weeks, Reuters reported Sunday, citing a senior U.S. official. According to the report, licenses will be issued to the U.S. companies on a case-by-case basis, starting in the next two to four week. Huawei is the world's largest telecom equipment maker.
Follow RTT