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0 0.00537634408602151 0.010752688172043 0.0483870967741936 0.0483870967741936 0.0645161290322581 0.0645161290322581 0.075268817204301
Stock impact report

Rite Aid misses revenue estimate, shares fall [Reuters]

Rite Aid Corporation (RAD) 
Last rite aid corporation earnings: 4/16 07:00 am Check Earnings Report
US:NYSE Investor Relations: riteaid.com/corporate/investor-relations
Company Research Source: Reuters
Rite Aid misses revenue estimate, shares fall | Reuters Reuters Staff 2 Min Read (Reuters) - Drug retailer Rite Aid ( RAD.N ) on Wednesday posted smaller-than-expected quarterly revenue due to a fall in reimbursement rates and a drop in comparable-store sales. Shares of the company fell 5.6 percent to $2.01 after the bell. The stock has fallen over 45 percent since June, when Walgreens scrapped its deal to buy Rite Aid outright after failing to win antitrust approval. Rite Aid’s same-store sales fell 2.5 percent, dropping for the sixth straight quarter. Retail pharmacy sales dropped 3 percent, while pharmacy services revenue fell 12.2 percent. Rite Aid has been struggling with eroding profits in its pharmacy business, which sells prescription drugs, as increases in branded drug prices have slowed while reimbursement pressure for generics has intensified. The Camp Hill, Pennsylvania-based company’s total revenue fell 5.6 percent to $5.35 billion, missing analysts’ average estimate of Show less Read more
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