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CAMP HILL, Pa. — Rite Aid Corp. reported its second consecutive quarterly profit and its first annual profit since 2007.
Rite Aid Corp. reported its second consecutive quarterly profit and its first annual profit since 2007.
For the fourth quarter ended March 2, Rite Aid booked net income of $123.1 million, or 13 cents per share, versus a loss of $161.3 million, or 18 cents per share, in the fiscal 2012 quarter.
Sales decreased 9.7% to $6.46 billion as a result of one less week in the quarter and higher sales of lower-cost generic drugs.
The bottom line for the year swung to a net profit of $118.1 million from a year-ago loss of $368.6 million, even though sales dipped 2.8% to $25.39 billion, again reflecting one less week and the impact of generic drug sales.
