Rite Aid Corporation (NYSE:RAD) is one of the top and trusted drugstore chains around the globe. So far, it has about 2,526 stores spread out across 19 states. This business guru announced a net loss for the second quarter from the ongoing operations of $352.3 million.
A close outlook
Rite Aid also focused on its continuing operations of about $7.9 million, eventually adjusting the net loss. It also adjusted EBITDA which implies it will stop the $148.6 million operations.
This company’s Chairman and CEO John Standley opined, “During the quarter, we have been hard at work accelerating our standalone strategy to capitalize on key opportunities to grow our business. These efforts helped us drive significant improvement in front-end and pharmacy comparable stores sales and exceed our plans for script count growth.”
This official applauded Rite Aid for the consistency it showcased over the years in line with the manufacture of a trusted brand of health and wellness. It has an innovative Wellness format, a popular customer loyalty program and top-notch health and wellness services.
The company has important work ahead of it and the official exudes great confidence in the team they have in place. The company also counts on the strategy it has in place. Standley says these two factors are enough to help them, build significant momentum for times ahead.
They are willing to even take risks on anything that will help them meet up to the diverse and ever evolving needs of their customers. Shareholders are important building blocks of any organization and that is the reason the company seeks to create value for all of them.
Rite Aid says that if all moves according to plan its adjusted EBITDA will stand between $540.0 million and $590.0 million. The business guru has also spoken in relation to its capital expenditures. It approximates that it will be about $250 million.
The previous quarter incurred some impairment charges which will place the net loss between $440 million and $485 million. Anyway, it will still be higher than the one recorded earlier on.