UPDATE: Rite Aid Posts Q1 Profit, Lowers Full-Year View

Rite Aid

posted a profit in the fiscal first quarter and cut its full-year earnings forecast. Rite Aid now expects full-year earnings of penny to $0.16 per share, versus its earlier forecast of $0.04 to $0.20 per share. Rite Aid posted a quarterly profit of $89.7 million, or $0.09 per share, versus a year-ago loss of $28.1 million, or $0.03 per share. However, analysts were expecting a profit of $0.09 per share. Rite Aid shares closed at $3.11 yesterday.