Rite Aid reports narrower-than-expected loss, but revenue misses and full-year loss outlook widens

Shares of Rite Aid Corp. RAD, +1.06% edged up 0.7% successful premarket trading Thursday, aft the drugstore concatenation reported a narrower-than-expected fiscal second-quarter loss, citing "strong execution" of COVID-19 vaccine administration, adjacent arsenic gross came up abbreviated and the full-year nonaccomplishment outlook was widened. The nett nonaccomplishment for the 4th to Aug. 28 widened to $100.3 million, oregon $1.86 a share, from $13.2 million, oregon 25 cents a share, successful the year-ago period, citing higher litigation settlements, higher nonaccomplishment connected merchantability of assets and a nonaccomplishment connected indebtedness modifications. Excluding nonrecurring items, the adjusted per-share nonaccomplishment was 41 cents, compared with the FactSet nonaccomplishment statement of 48 cents. Revenue roseate 2.2% to $6.11 billion, beneath the FactSet statement of $6.21 billion, arsenic retail pharmacy gross grew 6.5% to $4.28 cardinal portion pharmacy services gross fell 6.9% to $1.90 billion. For fiscal 2022, the institution affirmed its gross guidance scope of $25.1 cardinal to $25.5 cardinal but widened the adjusted per-share nonaccomplishment guidance to 90 cents to 53 cents from 79 cents to 24 cents. The banal has tumbled 25.4% implicit the past 3 months done Wednesday, portion the S&P 500 SPX, +0.95% has gained 3.6%.