Rite Aid Corp. Slips On Wider Loss In Q3

On:

Shares of drugstores chain Rite Aid Corporation (RAD) are falling more than 15% Wednesday morning after reporting wider loss in the third quarter, due to lower revenue from Covid vaccines and testing.

For the third quarter, the company reported net loss of $67.1 million, or $1.23 loss per share, wider than $36.1 million, or $0.67 per share loss in the same quarter a year ago.

Excluding one-time items, loss was $7.9 million, or $0.14 per share

Revenues for the quarter declined to $6.08 billion from $6.23 billion in the prior year’s quarter.

RAD, currently at $3.72, has traded in the range of $3.68-$15.62 in the last 1 year.

Source: Read Full Article

Lates News:
  1. CureVac Rallies On Positive Data From Its COVID-19, Flu Vaccine Candidates
  2. Bitwise CIO Foresees Bitcoin's Record Highs and Growing Investor Interest
  3. MicroStrategy's Bitcoin Stash Now In The Green as Crypto Assets Soar
  4. Blockchain Association Executive Director on Why Bitcoin ‘Has Been Largely Stable’ Lately
  5. Ark Invest’s Spot Bitcoin ETF Inches Closer To SEC Approval