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Rite Aid reports Q4, full-year losses
CAMP HILL, Pa. — Sales at Rite Aid fell during the fourth quarter and fiscal year 2011, according to financial results announced Thursday.
The 4,714-store retail pharmacy chain had sales of $6.5 billion for fourth quarter 2011, which ended Feb. 26, with a net loss of $205.7 million. Still, that was less than fourth quarter 2010’s loss of $208.4 million. For the fiscal year, sales were $25.2 billion, compared with $25.7 billion in fiscal year 2010. The year saw a net loss of $555.4 million, compared with $506.7 million in 2010.
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Target's value in the eye of the beholder
NEW YORK -- Target continues to pull ahead of Walmart in the value retail category, according to a recent Harris poll. The company was named the 2011 Harris Poll Equitrend value retail brand of the year. This is the second consecutive year Target has led the way in the value retail category.
Target lead the way with a ranking of 74.1, while Walmart had a ranking of 70.8. The industry average in the value retail category was 67.3.