CAMP HILL, Pa.
Drugstore operator Rite Aid Corp. says its fiscal third-quarter loss narrowed, but revenue slipped as a slower start to the cold and flu season hurt performance.
The Camp Hill, Pa., company lost $81.5 million, or 9 cents per share, after paying preferred dividends in the quarter that ended Nov. 27. That compares to a loss of $86.1 million, or 10 cents per share, in the same quarter last year.
Revenue fell 2 percent to $6.2 billion.
Analysts forecast a loss of 13 cents per share on $6.2 billion in revenue.
The company says revenue from stores open at least a year will be softer than expected, and it is again lowering its full-year forecast. Rite Aid now expects a net loss of between $525 million and $655 million.