June 25, 2020 / 11:20 AM / 2 months ago

BRIEF-Rite Aid Reports Q1 Adjusted Loss Per Share $0.04 From Continuing Operations

June 25 (Reuters) - Rite Aid Corp:

* ORATION REPORTS FISCAL 2021 FIRST QUARTER RESULTS

* Q1 ADJUSTED LOSS PER SHARE $0.04 FROM CONTINUING OPERATIONS

* Q1 LOSS PER SHARE $1.36 FROM CONTINUING OPERATIONS

* Q1 EARNINGS PER SHARE ESTIMATE $-0.38 — REFINITIV IBES DATA

* Q1 REVENUE $6.03 BILLION VERSUS REFINITIV IBES ESTIMATE OF $5.61 BILLION

* WITHDRAWS FISCAL 2021 OUTLOOK DUE TO UNCERTAINTY AROUND ULTIMATE IMPACT OF COVID-19

* EXPECTS TO GENERATE POSITIVE FREE CASH FLOW IN FISCAL 2021

* QTRLY RETAIL PHARMACY SEGMENT REVENUES WERE $4.12 BILLION AND INCREASED 6.7 PERCENT COMPARED TO PRIOR YEAR PERIOD

* QTRLY RETAIL PHARMACY SEGMENT SAME STORE SALES FROM CONTINUING OPERATIONS INCREASED 6.6 PERCENT OVER PRIOR YEAR PERIOD

* QTRLY FRONT-END SAME STORE SALES, EXCLUDING CIGARETTES AND TOBACCO PRODUCTS, UP 16%

* RITE AID - RECENTLY ELIMINATED 254 CORPORATE OFFICE POSITIONS ACROSS BOTH RETAIL PHARMACY AND PHARMACY SERVICES SEGMENTS

* DURING FIRST THREE WEEKS OF JUNE, SAW CONTINUED INCREASES IN COMPARABLE FRONT-END SALES OF 7.2% EXCLUDING. CIGARETTES, TOBACCO PRODUCTS

* SAME STORE PRESCRIPTION COUNTS DURING FIRST THREE WEEKS OF JUNE INCREASED 80 BASIS POINTS

* RITE AID - CURRENTLY HAS LIQUIDITY OF ABOUT $1.7 BILLION

* IN TOTAL, EXPECT EXPENSES REDUCTIONS TO RESULT IN SAVINGS OF OVER $40 MILLION IN 2021 THAT WERE NOT INCLUDED IN CO’S ORIGINAL GUIDANCE Source text for Eikon: Further company coverage:

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