Loading...
Loading...
Rite Aid
RAD reported a drop in its first-quarter earnings.
Rite Aid's quarterly profit declined to $41.4 million, or $0.04 per share, from a year-earlier profit of $89.7 million, or $0.09 per share.
Its revenue surged 2.7% to $6.47 billion versus $6.29 billion. However, analysts were projecting earnings of $0.04 per share on revenue of $6.43 billion.
Adjusted EBITDA fell to $282.6 million from $344.8 million.
Rite Aid's same store sales jumped 3.1%, while same store sales at pharmacies gained 4.6% in the period.
Rite Aid acquired 1 store and closed 7 stores in the quarter.
The company's press release offered the following comment from Rite Aid Chairman and CEO John Standley:
“In the first quarter, we delivered a strong store operating performance, highlighted by increases in same-store sales and same-store prescription count.”
Rite Aid reaffirmed its forecast for fiscal 2015.
Rite Aid shares gained 1.48% to $7.55 in pre-market trading.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in