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Rite Aid Reports Wider 2Q Loss
Chain Store Age
Thursday, September 27, 2007


Rite Aid Corp. said Thursday that its second-quarter loss widened and said it expects to lose more than it previously forecast for the year.

Rite Aid said its loss attributable to common shareholders was $78.2 million for the three months ending Sept. 1, vs. a loss of $8.2 million a year ago.

Revenues for the quarter jumped almost 54% to $6.6 billion, up from $4.29 billion a year ago, the company said. Comp-store sales rose 1.1%, the company said.

The company said it expects to lose between $78 million and $161 million for the year, compared to its earlier prediction of a loss of $47 million to $129 million.

Rite Aid acquired 1,854 Brooks and Eckerd stores in June. In the quarter, Rite Aid opened 11 new stores, acquired one other store, relocated eight stores and closed or sold 56 stores, including 23 it divested in the Brooks and Eckerd acquisition.

Companies referred to in story:


Stock %Chg Industry Mkt Cap
Eckerd Corporation

Drugstores & Rx
Rite Aid $2.89 -0.69% Drugstores & Rx $2.3B
Quote data as of: 03/31/2008 12:08 PM



 Related Stories

· Rite Aid Names Senior VP, Human Resources
(Chain Store Age, Feb 4, 2008)
· Rite Aid to Close 28 Stores in the Las Vegas Area
(Chain Store Age, Jan 7, 2008)
· Rite Aid December Same-Store Sales Dip
(Chain Store Age, Jan 3, 2008)
· Rite Aid Reports Wider 3Q Loss
(Chain Store Age, Dec 20, 2007)
· Target Vet Joins Rite Aid
(Chain Store Age, Nov 13, 2007)
· Rite Aid October Same-Store Sales Up
(Chain Store Age, Nov 1, 2007)


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