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The Rite Aid share falls 10% after larger than expected quarterly losses



Shares of Rite Aid Corp.

RAD, + 3.80%

fell more than 10% in the extended session on Wednesday after the dealer reported a larger than expected taxable quarter. Rite Aid reported a net loss from continuing operations of $ 1 billion, or $ 1.88 per share, compared to a net loss of 79 cents per share in the previous period. Income was $ 5.4 billion flat. Analysts asked by FactSet had expected a quarterly loss of 90 cents per share on sales of $ 5.4 billion. First-quarter results "do not meet our expectations due to prescription pressure in the retail pharmacy segment and margin compression in the pharmacy services segment," said Rite Aid in a statement. The stock ended regularly increased by 3.8%.


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