Rite Aid (RAD) Q4 Earnings Slightly Lower Than Street Estimates; Comps Rose 1.3%; Guides FY09 Below the Street
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Rite Aid Corp. (NYSE: RAD) reports a Q4 loss of $0.08, ex-items, 1 cent lower than the analyst estimate of ($0.07). Revenues for the quarter were $6.82 billion, versus the consensus of $6.85 billion.
Rite Aid's same store sales for the quarter increased 1.3% from the same period last year.
Rite Aid sees FY09 sales in the range of $26.7-$27.2 billion, versus the consensus of $27.63 billion. Sees same store sales over the full year increasing 2-4% over FY08. Rite Aid expects to report a FY09 net loss in the range of ($0.34)-($0.48), versus the Street estimate of ($0.18).
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States and District of Columbia. [BCS]
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