Rite Aid Reported In Line Q4 Loss, Topped Revenue Estimates

April 07, 2011

Rite Aid (NYSE:RAD) reported a Q4 loss of $0.24 per share, in line with consensus estimates. Revenues were flat year-over-year at $6.5 billion, ahead of consensus estimates of $6.4 billion.The company sees a 2012 loss of $0.42 to $0.64 per share, vs. consensus estimates for a loss of $0.52 per share.John Standley, Rite Aid president and CEO said, "We made solid progress this quarter as our initiatives to grow sales and improve customer satisfaction gained momentum. We increased same store sales both in the front end and pharmacy and grew prescriptions in comparable stores. At the same time, our team continued to do a good job of controlling costs, We are especially pleased with the growth of our wellness+ loyalty program, which now has over 36 million members. Customers and patients tell us they appreciate the great value and benefits it provides."