Rite Aid Corporation RAD shares are trading sharply lower on Thursday after the company reported a much wider than expected fourth-quarter earnings loss.
Adjusted EPS came in at a loss of 37 cents, which missed the estimate by 22 cents. Sales came in at $5.73 billion, which beat the $5.59 billion estimate.
The company also issued fiscal year 2021 sales guidance above analyst estimates.
The company shares were trading down 22.03% at $11.30 on Thursday. The stock has a 52-week high of $23.88 and a 52-week low of $5.04.
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