Rite Aid posts wider-than-expected loss

Drugstore chain Rite Aid Corp. on Thursday posted a wider loss for its fourth quarter, hurt by a sizable write-down of goodwill.

Before the opening bell, the Camp Hill, Pa.-based company said its quarterly net loss widened to $2.29 billion, or $2.67 a share, from $952.2 million, or $1.20 a share, in the year-earlier period. Revenue fell to $6.71 billion from $6.82 billion.

Excluding charges, the company said it would have lost 14 cents a share. Analysts, on average, expected the company to lose 11 cents a share, according to FactSet Research.

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- Posted: 2009-04-02 08:14:58

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