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Easter shift impacts warehouse clubs slightly
ISSAQUAH, Wash. and WESTBOROUGH, Mass. -- The shifting of Easter to April this year impacted the warehouse club sector last month, as both Costco and BJ’s reported March comps that were negatively impacted by the calendar change. Without the benefit of Easter sales, both companies still managed to turn out respectable comps.
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Rite Aid narrow loss in Q4
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that narrowed its loss in the fourth quarter to $208.1 million, compared with a loss of $210.6 million in the year-ago period.
The drugstore operator cited stabilized revenue for the slight improvement.
Revenue during the quarter was unchanged at $6.46 billion. Wall Street expected $6.41 billion in revenue.
Same-store sales edged up 1% in the fourth quarter.
In the fourth quarter, the company closed 17 stores, relocated four and remodeled two.