Rite Aid Posts Loss In Q1; Same Store Sales Up 0.4%

Rite Aid Corp. (RAD) reported a first-quarter net loss of $4.6 million compared to net income of $18.8 million, previous year. The company said the decline in operating results is due primarily to an increase in amortization expense related to EnvisionRx, a higher LIFO charge and a decline in adjusted net income. The company reported breakeven on a per share basis, compared to profit of $0.02.

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