NEW YORK (AP) — Rite Aid Corp. is reporting a slightly smaller loss for the fiscal fourth quarter as its revenue stabilized after more than two years of declines.
The Camp Hill, Pa., drugstore chain operator forecast stronger 2012 revenue than analysts expected.
Rite Aid reported a net loss of $208.1 million, or 24 cents per share, in the three months ended Feb. 26. That compared with a loss of $210.6 million, also 24 cents per share, a year ago. Its revenue was unchanged at $6.46 billion.
FactSet says analysts expected a loss of 24 cents per share and $6.41 billion in revenue.
Rite Aid's revenue at locations open at least a year improved, and the company says it cut its expenses. However it reported greater lease termination and impairment costs.