Rite Aid loss widens; shares fall
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From Times Wire Services
Rite Aid Corp. reported a bigger second-quarter loss than analysts had anticipated and forecast a wider loss for the rest of the year.
The net loss grew to $69.6 million, or 10 cents a share, from $330,000, or 2 cents, a year earlier. Sales increased 54% to $6.6 billion. The company, based in Camp Hill, Pa., also lowered its sales forecast for the year.
Shares of Rite Aid fell 21 cents, or 4.2%, to $4.84.
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