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Rite Aid reports first annual profit since 2007
Camp Hill, Pa. — Rite Aid reported a $123.1 million profit for the fourth quarter and a $118.1 million profit for the fiscal year, compared with respective losses of $161.3 million and $368.6 million during the same period last year. It was the drugstore chain's second-straight quarterly profit and first annual gain in six years, amid increases in prescription count and front-end end sales.
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Pier 1 Q4 profit down 46% without last year’s tax benefit
Fort Worth, Texas -- Pier 1's fourth-quarter earnings fell 46% compared with last year, when the chain recorded a large, one-time tax benefit.
The company earned $61.7 million in the three months that ended March 2, compared with $115.2 million in last year's quarter. Revenue rose 16% to $551.6 million. Same-store sales climbed 7.9%.
For the full year, Pier 1 earned $129.4 million on $1.7 billion in revenue.
For its current fiscal year, the chain expects to open 30 stores.