Rite Aid Expects 2013 Loss

NEW YORK (TheStreet) -- Drugstore chain Rite Aid(RAD) posted a narrower fourth-quarter loss and said it expects a loss in fiscal 2013.

Rite Aid reported a fourth-quarter loss of $161.3 million, or 18 cents a share, narrower than a year-earlier loss of $205.7 million, or 24 cents. The latest quarter included an accounting charge of 14 cents a share.

Rite Aid posted fourth-quarter revenue of $7.1 billion, up from $6.5 billion a year earlier.

Analysts called for a fourth-quarter loss of 14 cents a share on revenue of $6.98 billion.

For 2013, Rite Aid said it anticipates sales of between $25.4 billion and $25.8 billion; same-store sales are seen remaining in the range of flat to up 1.5%.

Rite Aid said the loss for next year is seen at between $103 million and $267 million, or 13 cents to 31 cents a share.

Analysts expect a loss of 25 cents a share.

Shares of Rite Aid ticked down a penny, or 0.59%, to $1.69 in premarket trading Thursday. Shares have risen 34.92% year to date.

-- Written by Alexandra Zendrian

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