Despite it’s efforts Rite Aid, U.S third largest drugstore chain has posted a loss for the 5th consecutive time. But this time through vowing to it’s efforts it has managed to bring down it’s losses.
While the chain is seeing a loyalty program, closing stores and remodeling others pay off, it continues to spend, and Thursday’s results marked its 19th consecutive quarterly loss.
Rite Aid lost $161.3 million, or 18 cents per share, in the fiscal fourth quarter ended March 3, compared with a loss of $205.7 million, or 24 cents per share, a year earlier.
Rite Aid previously said that sales at stores open at least a year, or same-store sales, rose 3 percent.
Total sales rose 10.7 percent to $7.15 billion, it said on Thursday, helped by an additional week in the latest quarter.