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Rite Aid narrows Q4 loss, to emphasize remodels in 2013
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the fourth quarter to $163.8 million, from a loss of $205.7 million in the year-ago period.
Revenue rose 10.7% to $7.15 billion from $6.46 billion, beating Wall Street’s expected $7.12 billion in revenue. Same-store sale increased 3%.
For the full year, Rite Aid reported a loss of $368.6 million and revenues of $26.1 billion.
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Deloitte: Spending up after several months of decline
New York -- A report released Thursday by Deloitte found that consumer spending posted an increase in March, reversing a trend of declines.
The Deloitte Consumer Spending Index climbed higher in March, marking only the third monthly increase over the past 12 months. The Index tracks consumer cash flow as an indicator of future consumer spending.