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Rite Aid Corp (RAD) SEC Filing 10-Q Quarterly report for the period ending Saturday, August 31, 2019

Rite Aid Corp

CIK: 84129 Ticker: RAD

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 Second Quarter Results

 

·            Same Store Prescription Volume Grew 2.7 Percent

 

·            Second Quarter Net Loss from Continuing Operations of $78.7 Million or $1.48 Per Share, Compared to the Prior Year Second Quarter Net Loss of $352.3 Million or $6.67 Per Share

 

·            Second Quarter Adjusted Net Income from Continuing Operations of $6.3 Million or $0.12 Per Share, Compared to the Prior Year Second Quarter Adjusted Net Loss of $7.9 Million or $0.15 Per Share

 

·            Second Quarter Adjusted EBITDA from Continuing Operations of $134.2 Million, Compared to the Prior Year Second Quarter Adjusted EBITDA of $148.6 Million

 

·            Rite Aid Narrows Fiscal 2020 Outlook for Adjusted EBITDA

 

CAMP HILL, Pa. (Sept. 26, 2019) - Rite Aid Corporation (NYSE: RAD) today reported operating results for its second fiscal quarter ended August 31, 2019.

 

For the second quarter, the company reported net loss from continuing operations of $78.7 million, or $1.48 per share, Adjusted net income from continuing operations of $6.3 million, or $0.12 per share, and Adjusted EBITDA from continuing operations of $134.2 million, or 2.5 percent of revenues.

 

“After my first few weeks as CEO, I’m optimistic about our future because I believe in the Rite Aid brand and the opportunity we have to deliver innovative experiences as a health and wellness destination, even as we recognize the challenges ahead,” said Rite Aid CEO Heyward Donigan. “I’m also encouraged by the market opportunities for EnvisionRxOptions as health plans and employers rethink their pharmacy services partnerships. In talking with many associates during my first 45 days, we know there is important work in front of us, and we are acting with urgency to finalize a strategic plan that positions our company to meet its full potential. We look forward to sharing the key elements of this plan in the coming months.”

 

“As we continue these efforts, I’d like to thank our Rite Aid team for their hard work during the second quarter,” Donigan continued. “Our Adjusted EBITDA results exceeded our plan driven by prescription count growth and strong expense control. This gives us important momentum for our future, and I look forward to working closely with our team to deliver a solid finish to our fiscal year and position Rite Aid as an innovative leader in our industry.”

 

-More-

 


The following information was filed by Rite Aid Corp (RAD) on Thursday, September 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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Rite Aid Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Rite Aid Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive (Loss) Income
Condensed Consolidated Statements Of Comprehensive (Loss) Income (Parenthetical)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Asset Sale To Wba
Asset Sale To Wba (Details)
Asset Sale To Wba (Tables)
Asset Sale To Wba - Carrying Amount Of Assets To Be Sold (Details)
Asset Sale To Wba - Operating Results Of Discontinued Operations (Details)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Basis Of Presentation - Recently Adopted Accounting Pronouncements (Details)
Basis Of Presentation - Revenue Recognition, Etc. (Details)
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Intangibles (Details)
Goodwill And Other Intangible Assets - Unfavorable Lease Intangibles And Amortization Expense (Details)
Guarantor And Non-Guarantor Condensed Consolidating Financial Information
Guarantor And Non-Guarantor Condensed Consolidating Financial Information (Tables)
Guarantor And Non-Guarantor Condensed Consolidating Financial Information - Balance Sheet (Details)
Guarantor And Non-Guarantor Condensed Consolidating Financial Information - Statement Of Cash Flow (Details)
Guarantor And Non-Guarantor Condensed Consolidating Financial Information - Statement Of Operations (Details)
Income Taxes
Income Taxes (Details)
Indebtedness And Credit Agreement - Credit Facility (Details)
Indebtedness And Credit Agreement - Transactions And Maturity (Details)
Indebtedness And Credit Agreements
Indebtedness And Credit Agreements (Tables)
Indebtedness And Credit Agreements - Indebtedness And Lease Financing Obligations (Details)
Lease Termination And Impairment Charges
Lease Termination And Impairment Charges (Details)
Lease Termination And Impairment Charges (Tables)
Lease Termination And Impairment Charges - Closures (Details)
Lease Termination And Impairment Charges - Fair Value (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Maturity Of Lease Liabilities Under Finance And Operating Leases (Details)
Leases - Minimum Lease Payments - Asc840 (Details)
Leases - Supplemental B/S Information (Details)
Leases - Supplemental Cash Flow Information Related To Leases (Details)
Loss Per Share
Loss Per Share (Details)
Loss Per Share (Tables)
Manufacturer Rebates Receivables
Manufacturer Rebates Receivables (Details)
Medicare Part D
Medicare Part D (Details)
Restructuring
Restructuring (Tables)
Restructuring - Related Costs (Details)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Assumptions And Assets (Details)
Retirement Plans - Benefit Obligation And Funded Status (Details)
Retirement Plans - Net Periodic Cost (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Adjusted Ebitda (Details)
Segment Reporting - Balance Sheet Information (Details)
Segment Reporting - Revenues (Details)
Stock Options And Stock Awards
Stock Options And Stock Awards (Details)
Stock Options And Stock Awards (Tables)
Stock Options And Stock Awards - Options (Details)
Stock Options And Stock Awards- Restricted Stock, Etc. (Details)
Supplementary Cash Flow Data
Supplementary Cash Flow Data (Details)
Supplementary Cash Flow Data (Tables)

Material Contracts, Statements, Certifications & more

Rite Aid Corp provided additional information to their SEC Filing as exhibits

Ticker: RAD
CIK: 84129
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-008810
Submitted to the SEC: Thu Oct 03 2019 7:56:59 AM EST
Accepted by the SEC: Thu Oct 03 2019
Period: Saturday, August 31, 2019
Industry: Retail Drug Stores And Proprietary Stores

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