Rite Aid narrows Q4 loss, to emphasize remodels in 2013
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the fourth quarter to $163.8 million, from a loss of $205.7 million in the year-ago period.
Revenue rose 10.7% to $7.15 billion from $6.46 billion, beating Wall Street’s expected $7.12 billion in revenue. Same-store sale increased 3%.
For the full year, Rite Aid reported a loss of $368.6 million and revenues of $26.1 billion.
For fiscal 2013, the company said it expects to spend about $300 million on capital expenditures, which includes increasing the number of wellness store remodels.