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Rite Aid's Q2 income nearly reverse of year-ago quarterly loss

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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.

Shares of East Pennsboro Township-based Rite Aid, one of the nation’s largest drugstore chains, are traded on the New York Stock Exchange under the ticker symbol RAD.

Brent Burkey

Brent Burkey

Brent Burkey covers York County, agribusiness, energy and environment, and workforce issues. Have a tip or question for him? Email him at brentb@cpbj.com. Follow him on Twitter, @brentburkey.

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