Rite Aid narrows Q3 loss on higher same-store sales
CAMP HILL, Pa. — Rite Aid Corp. reported Thursday that it lost $54.5 million in the fiscal quarter, narrowed from a loss of $81.5 million a year earlier. The chain has trimmed its projected loss for fiscal 2012 based on the results.
Revenue rose almost 2% to $6.31 billion, compared with $6.2 billion in the year-ago period and surpassing Wall Street’s expected $6.29 billion in revenue. Same-store sales increased 2%.
Rite Aid is upping its store improvement spending and has focused efforts on building its Wellness Plus rewards program.
The chain Aid had 4,679 stores as of Nov. 26, down 62 from a year ago.