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Drugstore operator Rite Aid posts smaller 3rd-quarter loss, sales at established stores climb
Rite Aid Corp. says its third quarter loss narrowed, as sales at stores open at least a year improved and the drugstore operator more than doubled the number of flu shots delivered.
The third-largest U.S. drugstore chain says it lost $54.5 million, or 6 cents per share, after paying preferred dividends in the latest quarter. That compares to a loss of $81.5 million, or 9 cents per share, a year ago.
Revenue climbed nearly 2 percent to $6.31 billion.
Analysts were expecting a loss of 12 cents per share on $6.29 billion in revenue.
The Camp Hill, Pa., company says sales at stores open at least a year climbed 2 percent, driven by an increase in pharmacy business.
Rite Aid had 4,679 stores as of Nov. 26, down 62 from a year ago.