Filed under: Earnings reports, Bad news, Walgreen Co (WAG), CVS Corp (CVS), Rite Aid Corp (RAD)

Rite Aid (NYSE: RAD), the third-largest operator of drug stores in the U.S., said earlier today that its second-quarter loss was wider than expected.

In the retailer’s latest reporting period, the company swallowed a loss of $78.2 million, or 10 cents per share, wider than the year-ago loss of $8.2 million (two cents per share) and four cents below Wall Street’s consensus view of six cents per share. While cash flow and tax benefits improved during the quarter, Rite Aid spent more on interest and integration, as well as other items. RAD also absorbed a one-time financing commitment charge of $12.9 million. On the plus side, revenue rose 54% to $6.6 billion; on the minus side, analysts were expecting sales of $6.8 billion. Same-store sales edged 1.1% higher during the quarter.

RAD chairman and CEO, Mary Sammons, participated in a post-earnings conference call and was quoted by Forbes as taking a cheerful view: “The good news is we’ve seen the margin rate improve and expect sales to do the same.”

Continue reading Rite Aid (RAD) reports increased second-quarter loss

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