Rite Aid narrows loss in Q2

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period. Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%. The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated. “We are pleased with the continued improvement in our top-line results, highlighted by three consecutive quarters of same-store sales growth,” said John Standley, Rite Aid president and CEO. Rite Aid launched the