Rite Aid (NYSE:RAD) announced that it lost $163.8 million, or 18 cents per share, during the fourth quarter, versus a loss of $205.7 million, or 24 cents per share, in the same period last year. Revenue increased to $7.15 billion from $6.46 billion. Excluding one time items, the company lost 4 cents per share. Analysts had expected the company to lose 14 cents per share on revenue of $7.12 billion. Rite Aid expects to lose between 13 and 31 cents per share during 2013, and expects same store sales to range from flat to up by 1.5 percent.
Shares are lower by nearly 1.8 percent.
Rival CVS (NYSE:CVS) is expected to announce earnings on May 2.
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