Rite Aid loss narrows loss in Q1

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the first quarter to $28.1 million, from a loss of $63.1 million in the year-ago quarter.

Revenue rose 1.2% to $6.5 billion from $6.4 billion, edging Wall Street’s forecasted $6.47 billion in revenue.

Same-store sales increased 2.5% in the quarter.

“Our turnaround efforts continue to be successful as demonstrated by our sixth consecutive quarter of increased same-store sales,” said Rite Aid chairman, president and CEO John Standley. “The ground-breaking Wellness store format continued to gain traction.”

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- 8:59 AM
psiegel@GoProConstruction.com says

One thing that may be of help. Rite Aid ads are the most jumbled mess that makes it too difficult to read. In a comparison to the other two major national drug chains, Rite Aid is the least one to try to read, comprehend, and result in a consumer's shopping experience. Their ads seem to say "lets see how many items we can cram into this area/page/flyer. Rather than (perhaps)indicating how many items are on sale - the look of these mass-jammed looking presentations is a TURN-OFF.

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