Exhibit 99.1

 

Press Release

For Further Information Contact:

 

INVESTORS:

MEDIA:

Byron Purcell

Christopher Savarese

(717) 975-5809

(717) 975-5718

or investor@riteaid.com

 

 

FOR IMMEDIATE RELEASE

 

Rite Aid Reports Fiscal 2020 First Quarter Results

 

·            First Quarter Retail Pharmacy Segment Same Store Sales Increased 1.4 Percent

·                  Same Store 30-Day Equivalent Prescription Count Grew 3.7 Percent

·                  Front End Same Store Sales, Excluding Cigarettes and Tobacco Products, Grew 0.3 Percent

 

·            First Quarter Net Loss from Continuing Operations of $99.3 Million or $1.88 Per Share, Compared to the Prior Year First Quarter Net Loss of $41.7 Million or $0.79 Per Share

·                  Current Quarter Net Loss from Continuing Operations Includes $43.4 Million in Pre-Tax Restructuring-Related Costs

 

·            First Quarter Adjusted Net Loss from Continuing Operations of $7.5 Million or $0.14 Per Share, Compared    to the Prior Year First Quarter Adjusted Net Income of $1.0 Million or $0.02 Per Share

 

·            First Quarter Adjusted EBITDA from Continuing Operations of $110.3 Million, Compared to the Prior Year First Quarter Adjusted EBITDA of $138.0 Million

 

·            Rite Aid Confirms Fiscal 2020 Outlook

 

CAMP HILL, Pa. (June 26, 2019) - Rite Aid Corporation (NYSE: RAD) today reported operating results for its first fiscal quarter ended June 1, 2019.

 

For the first quarter, the company reported net loss from continuing operations of $99.3 million, or $1.88 per share, Adjusted net loss from continuing operations of $7.5 million, or $0.14 per share, and Adjusted EBITDA from continuing operations of $110.3 million, or 2.1 percent of revenues.

 

“While first quarter results did not meet our expectations due to prescription reimbursement rate pressure in the Retail Pharmacy Segment and margin compression in the Pharmacy Services Segment, we are pleased with the improvements in our top-line growth and operating efficiency in the Retail Pharmacy Segment and Medicare Part D revenue growth in the Pharmacy Services Segment,” said Rite Aid CEO John Standley. “Looking forward, enhancements made to the McKesson supply agreement, generic purchasing improvements, revenue growth and the benefits of actions we have taken to reduce costs should drive improved results in both segments for the remainder of the year. We expect to meet our full-year guidance. In addition, through our ‘Path to the Future’ transformation initiative, we are identifying significant opportunities to drive further growth and operating efficiency in fiscal 2021, with a focus on reducing our reliance on traditional pharmacy reimbursement rate models.”

 

-More-

 


The following information was filed by Rite Aid Corp (RAD) on Wednesday, June 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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