Rite Aid Corp. today announced it will incur an income-tax expense that will result in a wider-than-expected net loss in the fourth quarter.
The drugstore chain said it expects its loss to widen by between $800 million and $1 billion, or between $1.11 and $1.38 per diluted share.
The Cumberland County company will report April 10 its results for the fourth-quarter and fiscal year that ended March 1. Analysts were expecting a loss of about 7 cents per share for the fourth quarter.
East Pennsboro Township-based Rite Aid shares trade on the New York Stock Exchange under the ticker symbol RAD.v
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