Rite Aid 2Q loss widens

CAMP HILL, Pa. Despite a 53.9% revenue increase, Rite Aid today reported a greater net loss for its second quarter.

Rite Aid reported revenues for the 13-week second quarter was $6.6 billion versus revenues of $4.29 billion in the prior year second quarter.

Same-store sales increased 1.1% during the second quarter as compared to the year-ago like period, consisting of a 1.4% pharmacy same-store sales increase and a 0.6% increase in front-end same store sales.

Net loss for the quarter was $69.6 million or 10 cents per diluted share compared to last year's second quarter net loss of $0.3 million or 2 cents per diluted share.