Rite Aid Bankruptcy Protection
Bankruptcy Protection on Rite Aid is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
Rite Aid Bankruptcy Coverage
Bankruptcy Coverage on Rite Aid is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
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Rite Aid posts losses in weak quarter
* Q3 EPS loss $0.09 vs $0.10 loss in prior year quarter
* Sales down 2.3 percent to $6.2 bln
* Sees larger year loss of $0.60 to $0.70/share
Rite Aid Corp. posted weak quarterly results as a slow flu season and higher workers’ compensation and insurance expenses hurt its results, the drugstore chain said on Thursday
The third-largest U.S. drugstore operator also darkened its full-year outlook to a loss of 60 cents per share to 74 cents per share, from a prior forecast for a loss of 46 cents to 67 cents.
Rite Aid reported a net loss for the third quarter, ended Nov. 27, of $79.1 million, or 9 cents per share, compared with a loss of $83.9 million, or 10 cents per share, for the same quarter a year ago.
Sales were down 2.3 percent to $6.2 billion. Sales at stores open at least a year were down 1.3 percent.
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
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Rite Aid Sales Disappoint
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
If you are thinking about buying bankruptcy coverage on Rite Aid, you might want to kick it into high gear. Sales revenue for the retailer dropped in September , while most retailers were up significantly (4%-10%).
The performance of Rite Aid is questionable, particularly with 4.7 billion in debt.
Use the form at the right or call us for an immediate quote. Your peace of mind is worth it.
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Rite Aid shares dropped upon the news this afternoon after loss estimate projections for 2011 were revealed. Shares fell to $0.97. The struggling retailer reported a second quarter loss of .23 per share due to its exorbitant health care costs and its attempt to retire large debt loads.
Since 2007, Rite Aid has been saddled with $4.7 billion in debt and it has been further brought down by its acquisition of Brooks and Eckerd drug chain. With the untimely downturn in the US economy, these events have created difficult times for the struggling retailer.
With many stores closing, and its continued efforts to pay down debt and build its private-label brand, the retailer is trying innovative ways to improve sales including store remodeling and customer rewards and perks.
The company is opening a new store concept in South Carolina combining its own products with grocery retailer Sav-A-Lot in about 10 locations to kick off the concept. Rite Aid also expects its various sales initiatives such as immunization training to aid a number of Rite Aid pharmacists providing vaccinations that is expected to help drive the sales of the company in the long term
Rite Aid runs 4,747 stores in 31 states.
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
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