Rite Aid's Q2 income nearly reverse of year-ago quarterly loss
Cumberland County-based drugstore chain Rite Aid Corp. today reported second-quarter net income of $32.8 million, or 3 cents per diluted share, compared with a net loss of $38.8 million, or 5 cents per diluted share, in the year-ago period.
The company also said it has raised fiscal 2014 guidance for several financial results partly because of stronger-than-anticipated performance in the first half, according to a news release.
Rite Aid also expects a better second half than previously projected, though not as good as the same period last year, the release stated.
The firm now expects fiscal 2014 net income of between $182 million, or 18 cents per diluted share, and $268 million, or 27 cents per diluted share.
This spring, Rite Aid was able to report that it recorded full-year net income for the first time since fiscal 2007.