Yahoo Finance Editor-in-Chief Andy Serwer examines the rise in retail theft, how that is affecting the bottom line of various companies, and the social and political temperatures around this issue.
Rite Aid (RAD) posts lower Q2 revenues from the year-ago fiscal quarter's level due to sluggishness in both the Retail Pharmacy and Pharmacy Services segments.
Drug store company Rite-Aid (NYSE: RAD) saw its shares drop 28% on Thursday. Revenue was a reported $5.9 billion, down 3% year over year, while the company said it had a net loss of $6.07 in earnings per share (EPS) compared to an EPS loss of $1.86 in the same period a year ago. While a noncash goodwill impairment charge made that loss more than normal, the company's adjusted EPS loss was $0.63 compared to $0.41 in the second quarter of 2021.