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.