Categories AlphaGraphs, Earnings, Health Care

Rite Aid (RAD) posts narrower-than-expected loss in Q1

Rite Aid Corporation (NYSE: RAD) reported a narrower loss in the first quarter of fiscal 2021 as an increase in the store traffic drove the top-line higher. The company withdraws its fiscal 2021 guidance.

Rite Aid (RAD) reports Q1 2021 earnings

The company witnessed an increase in in-store traffic as the COVID-19 pandemic prompted the people to pile up the medicines. Rite Aid turned cautious for fiscal 2021 due to the costs associated with the demand for essential service despite the sales trend remaining positive. The healthcare industry has survived in the crucial pandemic times.

The company was able to maintain its supply chain and stay in stock backed by the immediate action taken by the Retail Pharmacy teams. Rite Aid achieved double-digit front-end sales growth and gain retail market share driven by the actions taken in response to the COVID-19 crisis.

However, Rite Aid experienced a decline in acute prescriptions and increased costs incurred to assure the safety of its associates and customers. The company expects to generate positive free cash flow in fiscal 2021, in part by reducing costs, improving working capital, and reducing expected capital expenditures from original guidance of $350-275 million.

Take a look at our Health Care articles here

Most Popular

Earnings: Hewlett Packard Enterprise (HPE) Q4 earnings beat Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) Tuesday reported higher earnings and revenues for the fourth quarter of 2022. The bottom line also exceeded analysts' forecasts. Fourth-quarter profit,

Intuit (INTU) Q1 2023 Earnings: Key financials and quarterly highlights

Intuit (NASDAQ: INTU) reported first quarter 2023 earnings results today. Total revenue grew 29% year-over-year to $2.6 billion. Net income was $40 million, or $0.14 per share, compared to $228

Pinterest (PINS): Here are three factors that work in favor of this social media company

Shares of Pinterest Inc. (NYSE: PINS) were down on Tuesday. The stock has dropped 33% year-to-date and 39% over the past 12 months. Pinterest was one of the stocks that

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top